The challenges of using cryptocurrencies in the legal system of Islamic Republic of Iran

Cryptocurrencies, as one of the most essential products of blockchain technology, have unique and sometimes new features such as distributedness, asymmetric cryptography, and consensus mechanism, and they have a specific mechanism. Despite the widespread acceptance of crypto-currencies in our country, there are significant challenges in advancing their use. According to our country's legal system based on jurisprudence, these challenges can be summarised in the two axes of "not being property" and "being unknown" of cryptocurrencies. In addition, the use of cryptocurrencies inside the country is also prohibited by the approval of the Council of Ministers. To prove that cryptocurrencies are property, on the one hand, the definitions of property from a jurisprudential and legal point of view were discussed. On the other hand, the nature of cryptocurrencies was examined from the point of view of various legal documents and conventions. It was explained that cryptocurrencies can be considered property from a jurisprudential and legal point of view. On the other hand, while explaining the concept of white papers, the criticism that the mechanism governing cryptocurrencies is unknown has been answered. Finally, citing legal evidence, it has been demonstrated that the decision of the Council of Ministers is not strong enough to invalidate the contract in which the currencies were used.