IDEAS home Printed from https://ideas.repec.org/a/scm/ejafbu/v11y2023i1p45-52.html
   My bibliography  Save this article

Regulating Cryptographic Financial Instruments From Intent To Execution

Author

Listed:
  • Radu Bores

    (Stefan cel Mare University, Suceava, Romania)

  • Ana-Maria Bores

    (Stefan cel Mare University, Suceava, Romania)

Abstract

Cryptocurrencies are a new class of financial assets that have the potential to disrupt the traditional financial system and provide the premises for a genuinely innovative framework for new economic and financial interactions. The characteristics and technical specifications of these technologies, while the source of innovation, are challenging elements for various regulators. The purpose of this paper is to identify the main regulatory concerns, i.e. what the regulatory intentions are, the philosophy behind them and, to the extent possible, to assess the effects, specifically, whether the intentions align with the manifestations in practice. We consider three of the most significant events with price impact in crypto in the past year and analyze what was the contribution of the crypto legal framework, as well as changes or proposals in the aftermath.

Suggested Citation

  • Radu Bores & Ana-Maria Bores, 2023. "Regulating Cryptographic Financial Instruments From Intent To Execution," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 11(1), pages 45-52, February.
  • Handle: RePEc:scm:ejafbu:v:11:y:2023:i:1:p:45-52
    as

    Download full text from publisher

    File URL: http://www.accounting-management.ro/getpdf.php?paperid=31_7
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. ., 2022. "Cryptocurrencies: a revolutionary innovation or a scam?," Chapters, in: Fintech, chapter 7, pages 138-161, Edward Elgar Publishing.
    2. Bernhard K. Meister & Henry C. W. Price, 2022. "Darwin Among the Cryptocurrencies," Papers 2202.10340, arXiv.org.
    3. Borri, Nicola & Shakhnov, Kirill, 2020. "Regulation spillovers across cryptocurrency markets," Finance Research Letters, Elsevier, vol. 36(C).
    4. Brian D Feinstein & Kevin Werbach, 2021. "The Impact of Cryptocurrency Regulation on Trading Markets," Journal of Financial Regulation, Oxford University Press, vol. 7(1), pages 48-99.
    5. Bernhard K. Meister & Henry C. W. Price, 2022. "Yields: The Galapagos Syndrome Of Cryptofinance," Papers 2202.10265, arXiv.org.
    6. Raphael Auer & Stijn Claessens, 2018. "Regulating cryptocurrencies: assessing market reactions," BIS Quarterly Review, Bank for International Settlements, September.
    7. Abhinava Tripathi & Alok Dixit & Vipul, 2022. "Liquidity commonality in the cryptocurrency market," Applied Economics, Taylor & Francis Journals, vol. 54(15), pages 1727-1741, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kirimhan, Destan, 2023. "Importance of anti-money laundering regulations among prosumers for a cybersecure decentralized finance," Journal of Business Research, Elsevier, vol. 157(C).
    2. Zhang, Pengcheng & Xu, Kunpeng & Qi, Jiayin, 2023. "The impact of regulation on cryptocurrency market volatility in the context of the COVID-19 pandemic — evidence from China," Economic Analysis and Policy, Elsevier, vol. 80(C), pages 222-246.
    3. Raphael Auer & Marc Farag & Ulf Lewrick & Lovrenc Orazem & Markus Zoss, 2022. "Banking in the shadow of Bitcoin? The institutional adoption of cryptocurrencies," BIS Working Papers 1013, Bank for International Settlements.
    4. Brini, Alessio & Lenz, Jimmie, 2024. "Pricing cryptocurrency options with machine learning regression for handling market volatility," Economic Modelling, Elsevier, vol. 136(C).
    5. Jalan, Akanksha & Matkovskyy, Roman & Urquhart, Andrew & Yarovaya, Larisa, 2023. "The role of interpersonal trust in cryptocurrency adoption," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 83(C).
    6. Cornelia Pop & Ingrid-Emanuela Colonescu, 2021. "Cryptocurrencies’ Puzzle," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
    7. Daehan Kim & Mehmet Huseyin Bilgin & Doojin Ryu, 2021. "Are suspicious activity reporting requirements for cryptocurrency exchanges effective?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 7(1), pages 1-17, December.
    8. Gradojevic, Nikola & Tsiakas, Ilias, 2021. "Volatility cascades in cryptocurrency trading," Journal of Empirical Finance, Elsevier, vol. 62(C), pages 252-265.
    9. Rehman, Mobeen Ur & Katsiampa, Paraskevi & Zeitun, Rami & Vo, Xuan Vinh, 2023. "Conditional dependence structure and risk spillovers between Bitcoin and fiat currencies," Emerging Markets Review, Elsevier, vol. 55(C).
    10. Mercik, Aleksander & Słoński, Tomasz & Karaś, Marta, 2024. "Understanding crypto-asset exposure: An investigation of its impact on performance and stock sensitivity among listed companies," International Review of Financial Analysis, Elsevier, vol. 92(C).
    11. Koray Caliskan, 2022. "The Elephant in the Dark: A New Framework for Cryptocurrency Taxation and Exchange Platform Regulation in the US," JRFM, MDPI, vol. 15(3), pages 1-18, March.
    12. Douglas Arner & Raphael Auer & Jon Frost, 2020. "Stablecoins: risks, potential and regulation," Financial Stability Review, Banco de España, issue Autumn.
    13. Raphael Auer, 2019. "Beyond the doomsday economics of "proof-of-work" in cryptocurrencies," BIS Working Papers 765, Bank for International Settlements.
    14. Cao, Guangxi & Xie, Wenhao, 2022. "Asymmetric dynamic spillover effect between cryptocurrency and China's financial market: Evidence from TVP-VAR based connectedness approach," Finance Research Letters, Elsevier, vol. 49(C).
    15. Bruno Biais & Christophe Bisière & Matthieu Bouvard & Catherine Casamatta & Albert J. Menkveld, 2023. "Equilibrium Bitcoin Pricing," Journal of Finance, American Finance Association, vol. 78(2), pages 967-1014, April.
    16. Copestake, Alexander & Furceri, Davide & Gonzalez-Dominguez, Pablo, 2023. "Crypto market responses to digital asset policies," Economics Letters, Elsevier, vol. 222(C).
    17. Lennart Ante & Ender Demir, 2024. "The ChatGPT effect on AI-themed cryptocurrencies," Economics and Business Letters, Oviedo University Press, vol. 13(1), pages 29-38.
    18. Griffith, Todd & Clancey-Shang, Danjue, 2023. "Cryptocurrency regulation and market quality," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 84(C).
    19. Ahmed H. Elsayed & Ricardo M. Sousa, 2024. "International monetary policy and cryptocurrency markets: dynamic and spillover effects," The European Journal of Finance, Taylor & Francis Journals, vol. 30(16), pages 1855-1875, November.
    20. Osiebuni Collins OBU & Wilfred I. UKPERE, 2022. "The Implications of the Incursion of Cryptocurrency on the Effectiveness of Fiscal Policy," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 23(1), pages 134-150, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:scm:ejafbu:v:11:y:2023:i:1:p:45-52. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Liviu Scutariu The email address of this maintainer does not seem to be valid anymore. Please ask Liviu Scutariu to update the entry or send us the correct address (email available below). General contact details of provider: https://edirc.repec.org/data/feusvro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.