Cryptic Regulation of Crypto-Tokens /
Joshua S. Gans.
- Cambridge, Mass. National Bureau of Economic Research 2023.
- 1 online resource: illustrations (black and white);
- NBER working paper series no. w31301 .
- Working Paper Series (National Bureau of Economic Research) no. w31301. .
June 2023.
This paper investigates the alignment of existing securities regulations with the emerging landscape of crypto-tokens and blockchain technology. By examining the features of these digital assets, including decentralization, consensus mechanisms, and programmability, we analyze how they interact with existing financial rules. We compare approaches to regulation across countries, considering potential impacts on innovation. Furthermore, we explore the issues that may arise with blockchain networks, such as payment efficiency and market safety. The study aims to contribute to discussions about balancing innovation within the blockchain sphere and ensuring investor protection and market security, underlining areas that may necessitate regulatory improvements.
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