Abstract
LL.M. (Commercial Law)
The creation of blockchain technology has changed how the world at large carries on business. The most well-known use of blockchain technology is that it serves as the basis for cryptocurrencies like Bitcoin. It must be noted that this new technology is not always receiving a positive reaction from the rest of the world. The rise of virtual currencies has greatly impacted the banking law sector. Their rise has brought in many questions and uncertainties. This paper will investigate the legal nature of virtual currencies in South African law. It will determine whether virtual currencies are classified as money, legal tender, a commodity, or property in South African law.