Contornos jurídicos da soberania monetária e a sua relação com as criptomoedas

Abstract

From a legal perspective, understanding the operation of cryptocurrencies in a scenario of increasing utilization entails grasping how they can interfere with a nation's monetary sovereignty, as well as the potential actions the State can take to safeguard its sovereignty. In this context, given remaining uncertainties regarding the conceptualization of cryptocurrencies within monetary and legal realms, as well as the procedures that the legal framework can adopt to protect national sovereignty, this study justifies itself by examining the relationship between cryptocurrencies and Brazilian monetary sovereignty, aiming to comprehend the risks they pose to national sovereignty. Therefore, the main objective is to analyze the legal contours of monetary sovereignty and its relationship with cryptocurrencies, in order to understand the impact of these new technologies on Brazil's monetary sovereignty. To achieve this goal, the research explores i) the exploration of monetary sovereignty and its legal aspects; ii) the conceptualization of crypto-assets and cryptocurrencies, as well as their technologies; iii) the historical evolution of the concept of currency; and iv) the integration of all topics in linking the decentralization of cryptocurrencies and the challenges in the Brazilian monetary scenario. Thus, a methodology employing descriptive approach and logical-deductive method was utilized, along with exploratory research of a doctrinal, legislative, and jurisprudential nature to investigate the behavior of cryptocurrencies in the Brazilian sovereign context. It is concluded, therefore, that cryptocurrencies interfere with Brazil's monetary sovereignty, necessitating comprehensive regulation to mitigate decentralization and its associated challenges.