Publication Date

Spring 4-2023

School

School of Business

Major

Business: Economics; Business: Finance

Disciplines

Accounting | E-Commerce | Finance and Financial Management

Abstract

Cryptocurrency is an emerging asset in the financial field designed to act as an alternative medium of exchange to fiat currency. The researcher explores the value, function, and regulation of cryptocurrency to explain the complex system and provide insight into the asset’s prospects. The conclusion indicates that cryptocurrency has a wide variety of uses beyond traditional currency transactions. It also indicates that the recent downturn in the cryptocurrency market is correlated to the drop in the stock market that began in 2021 and is prolonged by economists’ fears of a recession in 2023. Future research should monitor whether the cryptocurrency market can recover and how upcoming government legislation will affect the adoption of cryptocurrency worldwide.

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