This article provides
a comparative analysis of financial regulations across different jurisdictions,
including the United States the UK and the European Union that could be applied
to crypto market. It discusses the economic, social, and technological factors
driving the need for crypto regulation and explores the challenges and
opportunities these regulations present for financial stability, consumer
protection, and innovation. By examining the different regulatory approaches,
the article offers insights into the development of a balanced regulatory
framework that addresses the unique aspects of digital currencies, maintaining
the innovative approach of the crypto market while safeguarding against risks.
References
[1]
Corbet, S., Lucey, B., Urquhart, A., & Yarovaya, L. (2019). Cryptocurrencies as a Financial Asset: A Systematic Analysis. International Review of Financial Analysis, 62, 182-199.
https://doi.org/10.1016/j.irfa.2018.09.003
[2]
Guseva, Y. (2021). The SEC, Digital Assets, and Game Theory. Journal of Corporation Law, 46, 629-679.
[3]
Giancarlo, C., & Bahlke, C. (2020). Cryptocurrencies and US Securities Laws: Beyond Bitcoin and Ether. IFLR.
[4]
Giudici, G., Milne, A., & Vinogradov, D. (2020). Cryptocurrencies: Market Analysis and Perspectives. Journal of Industrial and Business Economics, 47, 1-18.
https://doi.org/10.1007/s40812-019-00138-6
[5]
Hennelly, J. (2022). The Cryptic Nature of Crypto Digital Assets Regulations: The Ripple Lawsuit and Why the Industry Needs Regulatory Clarity. Journal of Corporate & Financial Law, 27, Article 6.
[6]
Jalan, A., & Matkovskyy, R. (2023). Systemic Risks in the Cryptocurrency Market: Evidence from the FTX Collapse. Finance Research Letters, 53, Article ID: 103670.
https://doi.org/10.1016/j.frl.2023.103670
[7]
Jones, C., & Kaminska, I. (2022). Lessons for Crypto from Libor-Bros. Financial Times.
[8]
Morgan, B., & Yeung, K. (2007). An Introduction to Law and Regulation (p. 18). Cambridge University Press. https://doi.org/10.1017/CBO9780511801112
[9]
Rejeb, A., Rejeb, K., & Keogh, J. G. (2020). Cryptocurrencies in Modern Finance: a Literature Review. Etikonomi, 20, 93-118. https://doi.org/10.15408/etk.v20i1.16911
[10]
Tomczak, T. (2022). Crypto-Assets and Crypto-Assets’ Subcategories under MiCA Regulation. Capital Markets Law Journal, 17, 365-382.
https://doi.org/10.1093/cmlj/kmac008
[11]
Van Adrichem, B. (2019). Howey Should Be Distributing New Cryptocurrencies: Applying the Howey Test to Mining, Airdropping, Forking, and Initial Coin Offerings. Columbia Science & Technology Law Review, 20, 388-422.
[12]
Van der Linden. T, & Shirazi, T (2023). Markets in Crypto-Assets Regulation: Does It Provide Legal Certainty and Increase Adoption of Crypto-Assets. Financial Innovation, 9, Article No. 22. https://doi.org/10.1186/s40854-022-00432-8
[13]
Versprille, A. (2023). A Crypto Bill Is Possible, Says Key Republican After Ripple Ruling. Bloomberg.
