use of Blockchain protocols and is, therefore, characterized as disintermediated, decentralized and unregulated. The …

Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations …

blockchain technology on financial regulation. After an initial study of the underlying principles driving both processes, we … notion of functional equivalence as it applies to the technology to analyse whether the use of blockchain technology in the …

context of cryptocurrencies. A prime reason for this failure is the extreme state of regulation, which was largely absent for … - under-regulation and over-regulation - are consistent with traditional concepts from law and economics. Specifically …, whenever DLT implements a "public blockchain" - where there is no screening of who joins the network - both the technology and …

is hardly possible to regulate a distributed network in a centralized fashion as decentralized permissionless blockchain …-based cryptocurrencies are antithetical to the existing centralized structure of monetary and financial regulation. By shifting the policy … cryptocurrencies at the code or protocol layer, which might not be desirable, even if feasible, the regulation should target the …

-based regulation, distinguished by a regulatory approach that is concerned with actively supporting innovators in nurturing cutting …