Blockchain technology, perhaps the most revolutionary invention of the 21st century, was popularized by introducing the world's first cryptocurrency 'Bitcoin.' However, despite many purported advantages offered by cryptocurrencies, they eluded mass adoption due to their extreme volatility. This...

The author analyzes the contours of the formulaic substance-based carve-out enshrined in the Pillar Two Blueprint. She also evaluates whether a carve-out stands vindicated in the context of Pillar Two and signs off with possible alternatives