Use of cryptocurrency as a payment tool in international trade agreements and resolution of disputes arising from it

Recently, cryptocurrency has become frequently mentioned in law and commerce. Its legal nature, particularly whether it qualifies as a means of payment in international commercial contracts, is debatable. This discussion arises from the inadequacy of legal regulations regarding cryptocurrencies in Turkish and international law. In our study, the evolution of money from its invention to the current position of cryptocurrencies will be covered. The legal nature of cryptocurrencies will be discussed. Moreover, the disputes that arise from the use of cryptocurrencies as an instrument of payment in international trade will be addressed. Additionally, the regulations concerning the resolution of disputes that arise from international commercial contracts that utilize cryptocurrencies as a means of payment, particularly within the context of international arbitration proceedings, will be addressed. Lastly, existing practices, doctrinal opinions, and recommendations will be included.