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Cryptocurrencies are often thought to operate out of the reach of national regulation, but in fact their valuations …
Persistent link: https://www.econbiz.de/10012205633
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 …
Persistent link: https://www.econbiz.de/10012918231
This article outlines the benefits and risks of the distributed ledger technology (DLT) for the clearing and settlement of exchange-traded and OTC securities, followed by a description of the technology’s potential role for central counterparties and central securities depositories. Although...
Persistent link: https://www.econbiz.de/10012268588
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 …
Persistent link: https://www.econbiz.de/10013404175
stablecoin issuers raises the challenge of how to apply technology-neutral regulation so that similar risks are subject to the … with blockchain-enabled credibility based on economic consensus. The key results set out the conditions under which the …
Persistent link: https://www.econbiz.de/10013206072
Blockchain is one of the most disruptive innovations in the field of technology in 21st century. Blockchain, a … three key properties of Blockchain technology, Decentralization, Transparency and Immutability have created a huge impact on … the banking and finance industries. As technology is the main driving force in Blockchain and its various applications, it …
Persistent link: https://www.econbiz.de/10013216035
Persistent link: https://www.econbiz.de/10012900571
This paper explores the interface between central banks and cryptocurrencies. Focusing on the European Central Bank (ECB), it identifies the potential threats that the rise of cryptocurrencies would pose to the basic and ancillary tasks of the ECB, in particular, its monetary policy operations...
Persistent link: https://www.econbiz.de/10012866515
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 …
Persistent link: https://www.econbiz.de/10012849751
With transformative evolution involving crypto-assets, machine learning applications and data-driven finance models, complex regulatory and policy issues are emerging. Inadequate frameworks in FinTech markets create regulatory friction and regulatory fragmentation. These limitations continue to...
Persistent link: https://www.econbiz.de/10012642449