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Blockchain Business and its Regulation

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  • YANO Makoto
  • Chris DAI
  • MASUDA Kenichi
  • KISHIMOTO Yoshio

Abstract

As the blockchain industry is becoming larger, a new decentralized financial ecosystem is now developing. New financial devices, represented by terms like tokens, coins and ICOs are introduced to finance projects on blockchain. Many countries are now studying how to deal with this new financial ecosystem. The U.S. is now regulating it by the Securities Act whereas Japan is applying the Money Settlement Act and the Financial Instruments and Exchange Act. In this paper, without going into country-specific regulatory issues, we will investigate how the society may deal with the new decentralized financial ecosystem from the regulatory viewpoint.

Suggested Citation

  • YANO Makoto & Chris DAI & MASUDA Kenichi & KISHIMOTO Yoshio, 2019. "Blockchain Business and its Regulation," Policy Discussion Papers 19030, Research Institute of Economy, Trade and Industry (RIETI).
    • Handle: RePEc:eti:polidp:19030
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    Cited by:

    1. Makoto Yano & Chris Dai & Kenichi Masuda & Yoshio Kishimoto, 2020. "Creation of Blockchain and a New Ecosystem," Economics, Law, and Institutions in Asia Pacific, in: Makoto Yano & Chris Dai & Kenichi Masuda & Yoshio Kishimoto (ed.), Blockchain and Crypto Currency, chapter 0, pages 1-19, Springer.
    2. Šilenskytė, Aušrinė & Butkevičienė, Jurgita & Bartminas, Andrius, 2024. "Blockchain-based connectivity within digital platforms and ecosystems in international business," Journal of International Management, Elsevier, vol. 30(3).
    3. Muhammad Z. Mumtaz & Zachary A. Smith, 2020. "Empirical examination of the role of fintech in monetary policy," Pacific Economic Review, Wiley Blackwell, vol. 25(5), pages 620-640, December.

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