Journal of Legal Research

Journal of Legal Research

Legal Aspects of Cryptocurrency Payments in International Trade

Document Type : Original Article

Authors
Amin Haghighat 1
Saeed Habiba 2
1 PhD Student in International Commercial Law and Foreign Investment, Faculty of Law and Political Science, University of Tehran, Tehran, Iran.
2 Professor, Department of Private Law, Faculty of Law and Political Science, University of Tehran, Tehran, Iran.
10.48300/jlr.2024.465728.2682
Abstract
An emerging question in the field of international trade is the possibility of settlement of monetary obligations through cryptocurrencies. The issue of whether cryptocurrencies such as Bitcoin or Tether may be used in lieu of official or contractually agreed currencies such as the U.S. dollar or the euro raises complex legal and economic considerations. From the perspective of the principles of freedom of commerce, market economy, and the transnationalization of commercial transactions, an absolute prohibition on such forms of payment does not appear entirely justifiable. Nevertheless, the use of cryptocurrencies as instruments of payment in international trade continues to encounter substantial legal and practical obstacles. These include the absence of effective governmental supervision, the lack of an internationally accountable regulatory authority, uncertainty regarding the legal nature and classification of cryptocurrencies, cybersecurity and transactional-security risks, and the evidentiary difficulties associated with proving the occurrence and validity of payment. In addition, the potential misuse of cryptocurrencies for criminal purposes, including money laundering, terrorist financing, and illicit cross-border transactions, has generated serious regulatory and security concerns at both the domestic and international levels. Such concerns have prompted divergent legal and regulatory responses among states and international institutions. This study examines the economic, legal, and security-related dimensions of cryptocurrencies and analyzes the approaches adopted by different states toward their regulation and use. The study further seeks to propose practical solutions concerning the utilization of cryptocurrencies as instruments of payment in international trade.
Keywords
Payment
Cryptocurrency
International Trade
Security
Challenge
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Journal of Legal Research
Volume 25, Issue 65
Spring 2026
Pages 293-316