Legal approaches to the regulatory framework of cryptocurrencies

Financial processes have been subject to great changes throughout history generating important political legal economic and social consequences becoming a fundamental axis for global development. Legal science has developed in the different stages of civilization normative bases in order to establish legal standards to ensure sustainable development in the processes of monetary exchange. Cryptocurrencies emerge as a novel method compared to the traditional financial system and its adoption has been recurrent due to the benefits it generates however the absence of a regulatory framework has prevented the possibility of becoming full-fledged monetary instruments.