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Cryptocurrencies Impact on Financial Markets: Some Insights on Its Regulation and Economic and Accounting Implications

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Blockchain and Applications (BLOCKCHAIN 2021)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 320))

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Abstract

Cryptocurrencies have become a trend (and, sometimes, a nightmare) for the financial sector. There are a multitude of news, opinions and criticisms about cryptocurrencies that need to be contextualized and pondered. This paper aims to explain some of the key legal issues regarding cryptocurrencies in the financial market and to analyze the highlights of one of the most recent regulatory proposals. The article introduces the real legal and financial reality surrounding cryptocurrencies and without which they could not develop. In line with the development of technology, this paper clarifies the volatility and the negativity of volatility for the development of cryptocurrencies, which are favoured by the development of accounting systems. Through a concrete example, the need for consistent accounting legislation and cash principles and rules observed in the importance of the cryptocurrency wallet and its implications on the current and traditional cash and bank-based management is incorporated in the present study.

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Author information

Authors and Affiliations

  1. Universitat Oberta de Catalunya, Barcelona, Spain

    Vanessa Jiménez-Serranía

  2. BISITE Research Group, University of Salamanca, Edificio Multiusos I+D+i, 37007, Salamanca, Spain

    Javier Parra-Domínguez, Fernando De la Prieta & Juan Manuel Corchado

Authors
  1. Vanessa Jiménez-Serranía
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  2. Javier Parra-Domínguez
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  3. Fernando De la Prieta
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  4. Juan Manuel Corchado
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Corresponding author

Correspondence to Javier Parra-Domínguez .

Editor information

Editors and Affiliations

  1. Building Edificio I+D+i, Room 24.1, University of Salamanca, Salamanca, Salamanca, Spain

    Javier Prieto

  2. Universidad Rey Juan Carlos, Móstoles, Madrid, Spain

    Alberto Partida

  3. Research Centre in Digitalization, Instituto Politécnico de Bragança, Bragança, Portugal

    Paulo Leitão

  4. ESTG, Instituto Politécnico do Porto, Felgueiras, Portugal

    António Pinto

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Jiménez-Serranía, V., Parra-Domínguez, J., De la Prieta, F., Corchado, J.M. (2022). Cryptocurrencies Impact on Financial Markets: Some Insights on Its Regulation and Economic and Accounting Implications. In: Prieto, J., Partida, A., Leitão, P., Pinto, A. (eds) Blockchain and Applications. BLOCKCHAIN 2021. Lecture Notes in Networks and Systems, vol 320. Springer, Cham. https://doi.org/10.1007/978-3-030-86162-9_29

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