Cryptocurrency: Evidence from North Macedonia

Abstract

Cryptocurrency as a novel concept in finance, has lately attracted a wide attention in the financial market. However, there is a divided opinion when it comes to embracing or ignoring them. Some are optimistic about their future, and others believe that the scepticism that surrounds them will strongly contribute to their disappearance from the market. The first part of the paper will give a brief background about cryptocurrencies and their associated advantages and disadvantages. The second part of the paper will focus on providing an overview of the cryptocurrency situation in North Macedonia, where they are currently unregulated. Since no legislation would protect consumers in case of fraud, the proper regulatory framework in this sphere is an urgent problem that requires immediate attention. Additionally, this paper will offer a small insight into other Western Balkan countries in this regard, where the situation is like North Macedonia.