The Ethics of Investing in Cryptocurrencies

Abstract

Much has been written about the sudden rise of cryptocurrencies, but there remains a glaring gap in the literature as to whether investing in cryptocurrencies is ethical. This first-of-its-kind Article aims to fill that gap by providing an in-depth ethical analysis based on a classical utilitarian framework comparing arguments for and against cryptocurrency investing. Topics covered include traditional views of ethical investing, environmental considerations, the support of illegal transactions, diverting funds from traditional investments which provide more societal benefit, unique U.S. considerations, efficacy as currency, and corporate social responsibility. Such analysis invites future research into this emerging, multi-trillion-dollar industry.