The Dog that Didn’t Bark: Effects of Regulation on Cryptocurrency Trading

Cryptocurrencies have the potential to operate as a new financial asset class; as a novel fund-raising tool for ventures; as a more efficient payment mechanism, especially across borders; and as the foundation for an innovative, new economy of distributed applications. They hold promise as competitors to entrenched incumbents in financial services and could generate substantial benefits for investors.

With the maturation of cryptocurrencies as a financial asset class, regulators face a crossroads. Some argue that governments should allow emerging technologies to develop unimpeded – and that attempts to regulate cryptocurrencies would simply push their exchanges, investment managers, and surrounding firms … Read more