Book chapter
Cryptocurrencies: Regulatory Perspectives and Implications for Investors
The Palgrave Handbook of Technological Finance, pp 161-186
2021
Abstract
Cryptocurrencies, such as Bitcoin and Ethereum, are part of the latest innovations in the financial system. There are more than 4000 cryptocurrencies in existence as of May 2020. We discuss whether cryptocurrencies and stablecoins could replace official central bank currencies, what a cashless financial system would look like, how monetary policy would need to adjust to remain effective, what type of regulatory changes would be needed to close the loopholes around capital controls and effective prevention of anti-money laundering, and whether central banks should create their own digital currencies. In addition, we explore the usage of distributed ledger technology (DLT), such as blockchain, in recording and transacting cryptocurrencies and the impact of initial coin offerings (ICOs), which have become a way for start-ups to raise funds, and we discuss potential implications for investors who may be interested in participating in the cryptocurrency markets.
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24 Record Views
11 citations in Scopus
Details
- Title
- Cryptocurrencies: Regulatory Perspectives and Implications for Investors
- Creators
- Julapa Jagtiani - Federal Reserve Bank of PhiladelphiaMichael Papaioannou - International Monetary FundGeorge Tsetsekos - Drexel UniversityErik Dolson - Federal Reserve Bank of PhiladelphiaDan Milo - Rutgers, The State University of New Jersey
- Publication Details
- The Palgrave Handbook of Technological Finance, pp 161-186
- Publisher
- Springer International Publishing; Cham
- Resource Type
- Book chapter
- Language
- English
- Academic Unit
- Finance
- Scopus ID
- 2-s2.0-85125934124
- Other Identifier
- 991021881514504721