Regulating The Crypto Economy

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Regulating the Crypto Economy

Author : Iris H-Y Chiu
Publisher : Bloomsbury Publishing
Page : 384 pages
File Size : 46,9 Mb
Release : 2021-10-21
Category : Law
ISBN : 9781509935758

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Regulating the Crypto Economy by Iris H-Y Chiu Pdf

This book focuses on the building of a crypto economy as an alternative economic space and discusses how the crypto economy should be governed. The crypto economy is examined in its productive and financialised aspects, in order to distil the need for governance in this economic space. The author argues that it is imperative for regulatory policy to develop the economic governance of the blockchain-based business model, in order to facilitate economic mobilisation and wealth creation. The regulatory framework should cater for a new and unique enterprise organisational law and the fund-raising and financing of blockchain-based development projects. Such a regulatory framework is crucially enabling in nature and consistent with the tenets of regulatory capitalism. Further, the book acknowledges the rising importance of private monetary orders in the crypto economy and native payment systems that do not rely on conventional institutions for value transfer. A regulatory blueprint is proposed for governing such monetary orders as 'commons' governance. The rise of Decentralised Finance and other financial innovations in the crypto economy are also discussed, and the book suggests a framework for regulatory consideration in this dynamic landscape in order to meet a balance of public interest objectives and private interests. By setting out a reform agenda in relation to economic and financial governance in the crypto economy, this forward-looking work argues for the extension of 'regulatory capitalism' to this perceived 'wild west' of an alternative economic space. It advances the message that an innovative regulatory agenda is needed to account for the economically disruptive and technologically transformative developments brought about by the crypto economy.

Regulating the Crypto Economy

Author : Iris H-Y Chiu Chiu
Publisher : Unknown
Page : 128 pages
File Size : 55,9 Mb
Release : 2021
Category : Blockchains (Databases)
ISBN : 1509935770

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Regulating the Crypto Economy by Iris H-Y Chiu Chiu Pdf

"This book focuses on the building of a crypto economy as an alternative economic space and discusses how the crypto economy should be governed. The crypto economy is examined in its productive and financialised aspects, in order to distil the need for governance in this economic space. The author argues that it is imperative for regulatory policy to develop the economic governance of the blockchain-based business model, in order to facilitate economic mobilisation and wealth creation. The regulatory framework should cater for a new and unique enterprise organisational law and the fund-raising and financing of blockchain-based development projects. Such a regulatory framework is crucially enabling in nature and consistent with the tenets of regulatory capitalism. Further, the book acknowledges the rising importance of private monetary orders in the crypto economy and native payment systems that do not rely on conventional institutions for value transfer. A regulatory blueprint is proposed for governing such monetary orders as 'commons' governance. The rise of Decentralised Finance and other financial innovations in the crypto economy are also discussed, and the book suggests a framework for regulatory consideration in this dynamic landscape in order to meet a balance of public interest objectives and private interests. By setting out a reform agenda in relation to economic and financial governance in the crypto economy, this forward-looking work argues for the extension of 'regulatory capitalism' to this perceived 'wild west' of an alternative economic space. It advances the message that an innovative regulatory agenda is needed to account for the economically disruptive and technologically transformative developments brought about by the crypto economy."--

Crypto-Finance, Law and Regulation

Author : Joseph Lee
Publisher : Routledge
Page : 215 pages
File Size : 43,5 Mb
Release : 2022-02-17
Category : Law
ISBN : 9780429657313

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Crypto-Finance, Law and Regulation by Joseph Lee Pdf

Crypto-Finance, Law and Regulation investigates whether crypto-finance will cause a paradigm shift in regulation from a centralised model to a model based on distributed consensus. This book explores the emergence of a decentralised and disintermediated crypto-market and investigates the way in which it can transform the financial markets. It examines three components of the financial market – technology, finance, and the law – and shows how their interrelationship dictates the structure of a crypto-market. It focuses on regulators’ enforcement policies and their jurisdiction over crypto-finance operators and participants. The book also discusses the latest developments in crypto-finance, and the advantages and disadvantages of crypto-currency as an alternative payment product. It also investigates how such a decentralised crypto-finance system can provide access to finance, promote a shared economy, and allow access to justice. By exploring the law, regulation and governance of crypto-finance from a national, regional and global viewpoint, the book provides a fascinating and comprehensive overview of this important topic and will appeal to students, scholars and practitioners interested in regulation, finance and the law.

Regulation of Cryptocurrencies and Blockchain Technologies

Author : Rosario Girasa
Publisher : Springer
Page : 274 pages
File Size : 46,9 Mb
Release : 2018-06-29
Category : Business & Economics
ISBN : 9783319785097

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Regulation of Cryptocurrencies and Blockchain Technologies by Rosario Girasa Pdf

The book highlights the rise of Bitcoin, which is based on blockchain technology, and some of the many types of coins and tokens that emerged thereafter. Although Bitcoin and other cryptocurrencies have made national and international news with their dramatic rise and decline in value, nevertheless the underlying technology is being adopted by both industry and governments, which have noted the benefits of speed, cost efficiency, and protection from hacking. Based on numerous downloaded articles, laws, cases, and other materials, the book discusses the digital transformation, the types of cryptocurrencies, key actors, and the benefits and risks. It also addresses legal issues of digital technology and the evolving U.S. federal regulation. The varying treatment by individual U.S. states is reviewed together with attempts by organizations to arrive at a uniform regulatory regime. Both civil and criminal prosecutions are highlighted with an examination of the major cases that have arisen. Whether and how to tax cryptocurrency transactions both in the U.S. and internationally are analyzed, and ends with a speculative narrative of future developments.

Regulating the Crypto Ecosystem

Author : Parma Bains,Arif Ismail,Fabiana Melo,Nobuyasu Sugimoto
Publisher : International Monetary Fund
Page : 45 pages
File Size : 54,9 Mb
Release : 2022-09-26
Category : Business & Economics
ISBN : 9798400221675

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Regulating the Crypto Ecosystem by Parma Bains,Arif Ismail,Fabiana Melo,Nobuyasu Sugimoto Pdf

Stablecoins have experienced periods of rapid growth, accelerated links with traditional finance. Without proper regulation, contagion risks to wider financial sector will increase. Global regulation for stablecoins should be comprehensive, consistent, risk-based, flexible, and focus on their structural features and use. Requirements on stablecoins should cover the entire ecosystem and all its key functions, and there should be additional oversight for systemic stablecoin arrangements. In markets where risks are growing quickly, authorities should take immediate action by using all the tools at their disposal. This note provides key elements that should feature in any regulatory arrangement. For effective implementation, domestic and international collaboration are key.

Rethinking the Regulation of Cryptoassets

Author : Johnstone, Syren
Publisher : Edward Elgar Publishing
Page : 328 pages
File Size : 50,6 Mb
Release : 2021-09-21
Category : Law
ISBN : 9781800886797

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Rethinking the Regulation of Cryptoassets by Johnstone, Syren Pdf

This thought-provoking book challenges the way we think about regulating cryptoassets. Bringing a timely new perspective, Syren Johnstone critiques the application of a financial regulation narrative to cryptoassets, questioning the assumptions on which it is based and whether regulations developed in the 20th century remain fit to apply to a technology emerging in the 21st.

Blockchain Regulation and Governance in Europe

Author : Michèle Finck
Publisher : Cambridge University Press
Page : 225 pages
File Size : 44,6 Mb
Release : 2018-12-20
Category : Business & Economics
ISBN : 9781108474757

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Blockchain Regulation and Governance in Europe by Michèle Finck Pdf

Finck examines the emergence of blockchains (and other forms of distributed ledger technologies) and the implications for regulation and governance.

Regulating the Crypto Ecosystem

Author : Parma Bains,Arif Ismail,Fabiana Melo,Nobuyasu Sugimoto
Publisher : International Monetary Fund
Page : 47 pages
File Size : 43,8 Mb
Release : 2022-09-26
Category : Business & Economics
ISBN : 9798400221361

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Regulating the Crypto Ecosystem by Parma Bains,Arif Ismail,Fabiana Melo,Nobuyasu Sugimoto Pdf

Unbacked crypto assets are the oldest and most popular type of crypto assets, relying not on any backing asset for value but instead on supply and demand. They were originally developed to democratize payments but are mostly used for speculation. Crypto assets were designed to disintermediate financial services, but centralized entities, such as exchanges and wallet providers, offer key functions to users and sustain the necessity of trust in one or several entities. At present, many of these entities are not covered by existing conduct, prudential, or payment regulations and can generate risks to market integrity, market conduct, and potential financial stability. We recommend that global bodies work to develop common taxonomies that can inform global and cross-sectoral standards while improving data insights. Standards should be risk-based, with greater requirements on entities and activities that generate more risk. Crypto asset service providers that deliver core functions and generate key risks should be licensed, registered, or authorized.

Regulation of Crypto Assets

Author : Cristina Cuervo,Anastasiia Morozova,Nobuyasu Sugimoto
Publisher : International Monetary Fund
Page : 27 pages
File Size : 50,8 Mb
Release : 2020-01-10
Category : Business & Economics
ISBN : 9781513520315

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Regulation of Crypto Assets by Cristina Cuervo,Anastasiia Morozova,Nobuyasu Sugimoto Pdf

The rapid growth of crypto assets has raised questions about the appropriate regulatory perimeter and the ability of the existing regulatory architecture to adapt to changing conditions. Effective regulation of financial services promotes long- term economic stability and minimizes the social costs and negative externalities from financial instability. The same underlying principles for regulation should apply to nascent products and services based on innovative technologies, notwithstanding design challenges.

Crypto Economy

Author : Aries Wanlin Wang
Publisher : Simon and Schuster
Page : 148 pages
File Size : 52,7 Mb
Release : 2018-11-20
Category : Business & Economics
ISBN : 9781510744837

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Crypto Economy by Aries Wanlin Wang Pdf

In late 2008, under the long shadow cast by the most severe economic crisis in generations, a revolutionary new form of currency was quietly being shaped. At the time no one could have predicted that an obscure form of electronic money would in less than a decade prove to be the most important financial innovation of the 21st century—a tool that would spark an entire new economic institution: crypto economy. That once-obscure money was known as Bitcoin, and today it is the highest valued digital coin. And though consumers continue to scramble to cash in on the trending currency, the technology behind Bitcoin known as Blockchain, which allows the currency to bought and sold without regulation by a government, remains a mystery to the public. In Crypto Economy, Aries Wanlin Wang provides the definitive blueprint for understanding how Bitcoin, Blockchain, and other digital technologies are disrupting traditional financial institutions and forever changing the world of commerce.

Regulating Blockchain

Author : Philipp Hacker,Ioannis Lianos,Georgios Dimitropoulos,Stefan Eich
Publisher : Oxford University Press
Page : 464 pages
File Size : 47,8 Mb
Release : 2019-08-01
Category : Law
ISBN : 9780192579508

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Regulating Blockchain by Philipp Hacker,Ioannis Lianos,Georgios Dimitropoulos,Stefan Eich Pdf

Less than a decade after the Financial Crisis, we are witnessing the fast emergence of a new financial order driven by three different, yet interconnected, dynamics: first, the rapid application of technology - such as big data, machine learning, and distributed computing - to banking, lending, and investing, in particular with the emergence of virtual currencies and digital finance; second, a disintermediation fuelled by the rise of peer-to-peer lending platforms and crowd investment which challenge the traditional banking model and may, over time, lead to a transformation of the way both retail and corporate customers bank; and, third, a tendency of de-bureaucratisation under which new platforms and technologies challenge established organisational patterns that regulate finance and manage the money supply. These changes are to a significant degree driven by the development of blockchain technology. The aim of this book is to understand the technological and business potential of the blockchain technology and to reflect on its legal challenges. The book mainly focuses on the challenges blockchain technology has so far faced in its first application in the areas of virtual money and finance, as well as those that it will inevitably face (and is partially already facing, as the SEC Investigative Report of June 2017 and an ongoing SEC securities fraud investigation show) as its domain of application expands in other fields of economic activity such as smart contracts and initial coin offerings. The book provides an unparalleled critical analysis of the disruptive potential of this technology for the economy and the legal system and contributes to current thinking on the role of law in harvesting and shaping innovation.

Blockchain and Crypto Currency

Author : Makoto Yano,Chris Dai,Kenichi Masuda,Yoshio Kishimoto
Publisher : Springer Nature
Page : 151 pages
File Size : 44,9 Mb
Release : 2020-04-15
Category : Business & Economics
ISBN : 9789811533761

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Blockchain and Crypto Currency by Makoto Yano,Chris Dai,Kenichi Masuda,Yoshio Kishimoto Pdf

This open access book contributes to the creation of a cyber ecosystem supported by blockchain technology in which technology and people can coexist in harmony. Blockchains have shown that trusted records, or ledgers, of permanent data can be stored on the Internet in a decentralized manner. The decentralization of the recording process is expected to significantly economize the cost of transactions. Creating a ledger on data, a blockchain makes it possible to designate the owner of each piece of data, to trade data pieces, and to market them. This book examines the formation of markets for various types of data from the theory of market quality proposed and developed by M. Yano. Blockchains are expected to give data itself the status of a new production factor. Bringing ownership of data to the hands of data producers, blockchains can reduce the possibility of information leakage, enhance the sharing and use of IoT data, and prevent data monopoly and misuse. The industry will have a bright future as soon as better technology is developed and when a healthy infrastructure is created to support the blockchain market.

Virtual Currencies and Beyond

Author : Mr.Dong He,Mr.Karl Friedrich Habermeier,Mr.Ross B Leckow,Mr.Vikram Haksar,Ms.Yasmin Almeida,Ms.Mikari Kashima,Mr.Nadim Kyriakos-Saad,Ms.Hiroko Oura,Tahsin Saadi Sedik,Natalia Stetsenko,Ms.Concha Verdugo Yepes
Publisher : International Monetary Fund
Page : 42 pages
File Size : 55,7 Mb
Release : 2016-01-20
Category : Business & Economics
ISBN : 9781498321303

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Virtual Currencies and Beyond by Mr.Dong He,Mr.Karl Friedrich Habermeier,Mr.Ross B Leckow,Mr.Vikram Haksar,Ms.Yasmin Almeida,Ms.Mikari Kashima,Mr.Nadim Kyriakos-Saad,Ms.Hiroko Oura,Tahsin Saadi Sedik,Natalia Stetsenko,Ms.Concha Verdugo Yepes Pdf

New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.

Understanding the Blockchain Economy

Author : Chris Berg,Sinclair Davidson,Jason Potts
Publisher : Edward Elgar Publishing
Page : 253 pages
File Size : 41,5 Mb
Release : 2019
Category : Business & Economics
ISBN : 9781788975001

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Understanding the Blockchain Economy by Chris Berg,Sinclair Davidson,Jason Potts Pdf

Blockchains are the distributed ledger technology that powers Bitcoin and other cryptocurrencies. But blockchains can be used for more than the transfer of tokens – they are a significant new economic infrastructure. This book offers the first scholarly analysis of the economic nature of blockchains and the shape of the blockchain economy. By applying the institutional economics of Ronald Coase and Oliver Williamson, this book shows how blockchains are poised to reshape the nature of firms, governments, markets, and civil society.

Cryptocurrencies and Regulatory Challenge

Author : ALLAN C. HUTCHINSON
Publisher : Routledge
Page : 176 pages
File Size : 42,5 Mb
Release : 2021-11-05
Category : Electronic
ISBN : 1032070358

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Cryptocurrencies and Regulatory Challenge by ALLAN C. HUTCHINSON Pdf

As a social process that places great stock in its stability and predictability, law does not deal easily or well with change. In a modern world that is in a constant and rapid state of flux, law is being placed under considerable stress in its efforts to fulfill its task as a primary regulator of social and economic behaviour. This challenge is particularly acute in the realm of technology and its profound ramifications for social and economic behaviour. The innovative Techno-Age not only offers fresh ways of handling old problems, but also throws up entirely new problems; traditional ways of thinking about and responding to these old and new problems and their optimal resolution are no longer as tenable as many once thought. One such example is the burgeoning world of cryptocurrencies - this peer-to-peer digital network presents a profound challenge to the status quo of the financial services sector, to the established modes of state-backed fiat currency, and to the regulatory authority and reach of law. Taken together, these related challenges demand the urgent attention of jurists, lawyers and law reformers. It is the future and relevance of legal regulation as much as cryptocurrency that is at stake. This book proposes an approach to regulating cryptocurrency that recognises and retains its innovative and transformative potential, but also identifies and deals with some of its less appealing qualities and implications.