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platforms. Bitcoin or BTC is known as a digital coin, issued for the first time in 2009 and based on a peer to peer system. The … associated with criminal financing activities. However, the legal status of Bitcoin is present in many European countries like …
Persistent link: https://www.econbiz.de/10012017167
The last two decades have witnessed increasingly frequent and severe financial crises that many related to short-term speculation. Consequently, James Tobin’s proposition of a small tax on cross-border currency transactions to reduce such speculation has featured prominently in the...
Persistent link: https://www.econbiz.de/10005064696
Taking Singapore as an example, this article lays out a series of tests for determining whether gains arising from the disposal of cryptocurrencies are trade or business income, “all other income” or capital gains. It also considers the possibility of a presumption that individuals engaging...
Persistent link: https://www.econbiz.de/10013214053
Bitcoin is traded in a number of exchanges, and there is a large and time-varying price dispersion among them. We …. Using weekly data over the past 3 years, we find that shocks to transaction fees and bitcoin price growth explain on average …
Persistent link: https://www.econbiz.de/10012835272
Central bank digital currencies (CBDCs) promise to provide cash-like safety and convenience for peer-to-peer payments. To do so, they must be resilient and accessible. They should also safeguard the user's privacy, while allowing for effective law enforcement. Different technical designs satisfy...
Persistent link: https://www.econbiz.de/10012838722
We investigate the performance of funds that specialise in cryptocurrency markets. In doing so, we contribute to a growing literature that aims to understand the role of digital assets as an investment. Methodologically, we implement a novel panel bootstrap approach that samples jointly the...
Persistent link: https://www.econbiz.de/10012838990
While the many commonalities shared by Bitcoin and gold raise a question of whether Bitcoin is a safe-haven like gold …, relevant empirical evidence to date is mixed. Unlike existing empirical studies, we derive a simple estimable model of Bitcoin … dynamic effects of macro factors, including income, inflation, and interest rates on Bitcoin prices at a weekly frequency …
Persistent link: https://www.econbiz.de/10012839350
cryptocurrencies such as Bitcoin, Ethereum or Ripple have failed to gain relevance in terms of their share in monetary transactions …
Persistent link: https://www.econbiz.de/10012840976
This study examines whether Bitcoin, a digital decentralized currency, can become a viable alternative to fiat … currencies. Bitcoin currently does not fulfill the criteria of being a currency because it does not function as a medium of … exchange, a unit of account, and a store of value. Bitcoin's biggest obstacle from fulfilling these functions is the price …
Persistent link: https://www.econbiz.de/10012957332
Persistent link: https://www.econbiz.de/10012900571