A Light Touch of Regulation for Virtual Currencies
With the rise of Bitcoin, governments are increasingly concerned about the risks that the market will face as a result of these virtual currencies. This chapter considers the virtual currency landscape from a market supervisory perspective. First, Bitcoin is introduced as a type of virtual currency...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2015
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/4212 https://doi.org/10.1016/B978-0-12-802117-0.00016-3 |
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| Institution: | Singapore Management University |
| Language: | English |
| Summary: | With the rise of Bitcoin, governments are increasingly concerned about the risks that the market will face as a result of these virtual currencies. This chapter considers the virtual currency landscape from a market supervisory perspective. First, Bitcoin is introduced as a type of virtual currency known as a decentralized cryptocurrency, and the main participants in such a market are identified. A brief on the legitimate uses and potentially regulable risks of virtual currencies is then provided before the wide-ranging spectrum of existing regulatory approaches and opinions is surveyed. Finally, this chapter concludes by recommending a light-touch approach to the regulation of cryptocurrencies like Bitcoin. |
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