The component parts of a more complete market system in digital assets are steadily being assembled. The initial focus on the primary market has increasingly expanded to the secondary market. An increasingly important subject of regulatory concern is the activities of cryptoexchanges. This...

Regulation magazine celebrates its 40th anniversary this year, which is also roughly the anniversary of the beginning of the deregulation era in federal domestic policy. This article reviews the history of the rise of federal regulation in the United States, the intellectual and political...

Banking is risky and prone to failure. Yet banking regulation is surprisingly not all that risk-sensitive in practice. I show that when the bank has an informational advantage over the regulator, designing risk-sensitive banking regulation gives rise to a trade-off: relying on the banking market...