This study analyzes the impact of a newly emerging type of anti-money laundering regulation that obligates cryptocurrency exchanges to report suspicious transactions to financial authorities. We build a theoretical model for the reporting decision structure of a private bank or cryptocurrency...

Confirmation of the settlement on-[block]chain transactions is both costly and takes time as it requires the actions of others (i.e., “bitcoin miners”) who compete to mine a block into which they can compile transactions. In the on-chain settlement competition for bitcoin transactions, users...

As being unbanked is one of the motivations for using cryptocurrency, this study analyzes the financial inclusion of unbanked individuals that results from the use of peer-to-peer cryptocurrency transactions. By extending the Kiyotaki-Wright model, we construct a dual- currency economy in which...

As being unbanked is one of the motivations for using cryptocurrency, this study analyzes the financial inclusion of unbanked individuals that results from the use of peer-to-peer cryptocurrency transactions. By extending the Kiyotaki-Wright model, we construct a dual-currency economy in which...

Confirmation of the settlement on-[block]chain transactions is both costly and takes time as it requires the actions of others (i.e., “bitcoin miners”) who compete to mine a block into which they can compile transactions. In the on-chain settlement competition for bitcoin transactions, users...

In the blockchain world, proof-of-work is the dominant protocol mechanism that determines the consensus of the ledger. The hashrate, a measure of the computational power directed toward securing a blockchain through proof-of-work consensus, is a fundamental measure of preventing various attacks....