Abstract
As Bitcoin penetrates the global financial system, its legal classification becomes crucial for determining the appropriate substantive law in both public international law and private international law. This Note argues that Bitcoin, a decentralized digital commodity, is analogous to tangible, movable property for purposes of defining prescriptive jurisdiction. Bitcoin’s unique attributes—its inherent value and rivalrous nature—qualify it as digital, yet tangible property, and suggests that it can have a physical situs. The property’s situs can determine which jurisdiction’s substantive law can apply. By examining different Bitcoin custody models, including single-key wallets, multi-signature wallets, and brain wallets, this Note explores the challenges of locating Bitcoin’s situs and applying existing territorial legal principles. Highlighting the necessity for legal frameworks to evolve alongside technological innovations, this Note contributes to the discourse on how digital assets like Bitcoin should integrate within the international legal system, ultimately supporting a more equitable and effective regulatory environment.
Recommended Citation
Ethan Gibson,
Locating Bitcoin: Jurisdictional Challenges and Solutions in Digital Asset Law,
36 Fla. J. Int'l L.
227
(2024).
Available at: https://scholarship.law.ufl.edu/fjil/vol36/iss1/5