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Bitcoin: a regulatory nightmare to a libertarian dream

Author

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  • De Filippi, Primavera

Abstract

This article provides an overview of national policies and current discussions on the regulation of bitcoin in Europe and beyond. After presenting the potential threat that cryptocurrencies pose to governmental and financial institutions worldwide, it discusses the regulatory challenges and the difficulty for national regulators to come up with a sound regulatory framework, which the author believes explains the current (lack of) regulatory responses in this field. The article concludes that regulation is needed, but that in order not to excessively stifle innovation in this nascent ecosystem, some of these challenges might better be addressed through self-regulation.

Suggested Citation

  • De Filippi, Primavera, 2014. "Bitcoin: a regulatory nightmare to a libertarian dream," Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 3(2), pages 1-11.
    • Handle: RePEc:zbw:iprjir:213987
    DOI: 10.14763/2014.2.286
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    Citations

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    Cited by:

    1. De Filippi, Primavera & Loveluck, Benjamin, 2016. "The invisible politics of Bitcoin: governance crisis of a decentralised infrastructure," Internet Policy Review: Journal on Internet Regulation, Alexander von Humboldt Institute for Internet and Society (HIIG), Berlin, vol. 5(3), pages 1-28.
    2. Larue, Louis & Meyer, Camille & Hudon, Marek & Sandberg, Joakim, 2022. "The Ethics of Alternative Currencies," Business Ethics Quarterly, Cambridge University Press, vol. 32(2), pages 299-321, April.
    3. Filip Hampl & Lucie Gyönyörová, 2021. "Can Fiat‐backed Stablecoins Be Considered Cash or Cash Equivalents Under International Financial Reporting Standards Rules?," Australian Accounting Review, CPA Australia, vol. 31(3), pages 233-255, September.
    4. Papadamou, Stephanos & Kyriazis, Nikolaos A. & Tzeremes, Panayiotis G., 2021. "Non-linear causal linkages of EPU and gold with major cryptocurrencies during bull and bear markets," The North American Journal of Economics and Finance, Elsevier, vol. 56(C).
    5. Krzysztof Marecki & Agnieszka Wójcik-Czerniawska, 2021. "Defi (Decentralized Finance) Will Lead To A Revolution In The World Of Financial Services," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 15(1), pages 284-290.
    6. Primavera De Filippi & Morshed Mannan & Wessel Reijers, 2022. "The alegality of blockchain technology [El Salvador becomes first nation to bitcoin legal tender]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 41(3), pages 358-372.
    7. Cornelia Pop & Ingrid-Emanuela Colonescu, 2021. "Cryptocurrencies’ Puzzle," JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, Babes-Bolyai University, Faculty of Business.
    8. Aniruddha Dutta & Saket Kumar & Meheli Basu, 2019. "A Gated Recurrent Unit Approach to Bitcoin Price Prediction," Papers 1912.11166, arXiv.org.
    9. Marecki, Krzysztof & Wójcik-Czerniawska, Agnieszka, 2020. "e. The use of blockchain technology to improve the food supply chain," Land, Farm & Agribusiness Management Department 308135, Harper Adams University, Land, Farm & Agribusiness Management Department.
    10. Baumöhl, Eduard, 2019. "Are cryptocurrencies connected to forex? A quantile cross-spectral approach," Finance Research Letters, Elsevier, vol. 29(C), pages 363-372.
    11. Marecki, Krzysztof & Wójcik-Czerniawska, Agnieszka, 2020. "e. The use of blockchain technology to improve the food supply chain," Agri-Tech Economics Papers 308135, Harper Adams University, Land, Farm & Agribusiness Management Department.
    12. Zapf, Anke, 2020. "Herausforderungen und Chancen bei der Bilanzierung von Kryptowährungen," Junior Management Science (JUMS), Junior Management Science e. V., vol. 5(2), pages 148-175.
    13. Michael Demmler & Amilcar Orlian Fernández Domínguez, 2021. "Bitcoin and the South Sea Company: A comparative analysis," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 13(1), pages 197-224, March.
    14. G. Howells, 2020. "Protecting Consumer Protection Values in the Fourth Industrial Revolution," Journal of Consumer Policy, Springer, vol. 43(1), pages 145-175, March.
    15. Aniruddha Dutta & Saket Kumar & Meheli Basu, 2020. "A Gated Recurrent Unit Approach to Bitcoin Price Prediction," JRFM, MDPI, vol. 13(2), pages 1-16, February.
    16. Assen Slim, 2021. "Will the BRICS Be the Leaders in Central Bank Digital Currencies?," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 3-16.
    17. Georgios Dimitropoulos, 2022. "The use of blockchain by international organizations: effectiveness and legitimacy [The governance of blockchain dispute resolution]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 41(3), pages 328-342.
    18. Krzysztof Marecki & Agnieszka Wójcik-Czerniawska, 2020. "Cryptocurrency Market Of Bitcoin And Payment Acceptability In E-Commerce," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 14(1), pages 257-267.

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