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This paper provides background to the upcoming EU regulation on Markets in Crypto-Assets (MiCA). The first step to …. After negotiations between the EU institutions, the final agreed MiCA text will go to plenary vote soon. The EU regulation …
Persistent link: https://www.econbiz.de/10013448072
-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 … interdictions of regulation towards the middlemen, and can be enforced by the existing financial market participants and traditional …
Persistent link: https://www.econbiz.de/10012849751
This paper examines the functioning of virtual currencies as payment systems through crypto-currency exchanges and the likely impact their integration with traditional payment systems may have on the interdependent global payment systems. Being a potential global transformational phenomenon,...
Persistent link: https://www.econbiz.de/10013231250
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
regulatory framework for virtual currencies (New York “Bitlicense” Regulation) is “well drafted” and (with some changes) could … modern payment systems and regulation, currency stability issues, and the possible threat to financial order posed by virtual … currencies. Part VII. Explores the future of regulation in this area of law. Implications for further research are then presented …
Persistent link: https://www.econbiz.de/10012970054
. I considered the popular justifications for regulating bitcoin with the idea of efficient regulation in mind. I also …
Persistent link: https://www.econbiz.de/10012937132
In this paper, we examine the Taxation aspects of Fiat money and Bitcoins vis-a-vis Regulated Cryptocurrencies. We start off by briefly explaining the concept of cryptocurrencies (also referred to as cryptocoins in this paper). We then discuss the concept of Regulated and Sovereign Backed...
Persistent link: https://www.econbiz.de/10012982071
The emergence of bitcoin poses an important question for monetary theorists: can bitcoin compete with or even replace existing fiat monies? To answer this question, one must be able to determine what gives intrinsically useless monies their value, what determines the coexistence of alternative...
Persistent link: https://www.econbiz.de/10013227942
The prospect of central banks issuing digital currency (CBDC) immediately raises the question of how this new form of money should co-exist and interact with existing forms of money. This paper evaluates three different scenarios for the implementation of CBDC in terms of their monetary policy...
Persistent link: https://www.econbiz.de/10012954346
Bitcoin is the most successful cryptocurrency and one of the best types of private money ever. The blockchain technology underlying bitcoin is presented with the spotlight on distributed consensus, allowing for proper understanding of its peculiarities. Notarization and trust anchoring are...
Persistent link: https://www.econbiz.de/10012935626