This paper analyzes if Bitcoin enhances investment portfolios both financially and in terms of lower carbon emissions. We show that the addition of Bitcoin to a diversified equity portfolio does improve the risk-return relationship of the portfolio but not its sustainability by reducing the...

The governance of the fiat money system via democratically elected government and financial institutions aims to ensure that all can transact fairly and safely with confidence in the stability and viability of that system in an equitable manner for all citizens. Rawls (1971) suggested that the...

This article considers the U.S. federal income tax treatment of loans and prepaid forward contracts denominated in cryptocurrencies. There is substantial uncertainty as to how the IRS will treat these products. The author examines traditional authorities regarding loans and prepaid forward...

Is bitcoin the new digital gold? To answer this question, we investigate the potential benefits of bitcoin during extremely volatile periods. We use the multivariate extreme value theory, which is the appropriate statistical approach to model the tail dependence structure of the return...

The recent decade has witnessed an extraordinary degree of innovation in the financial sector. Developments in financial technology, computing power, and networking theory have allowed decentralized online platforms such as Bitcoin to fundamentally change the way that financial services are...

Bitcoin emerged as a cryptocurrency relying on new blockchain technology in 2009, but how to regulate it was not immediately clear. The recent emergence of bitcoin futures poses a new level of risk to the economy, again raising questions of regulation. This is the first law review article to...