International Economics
Abstract
This article provides an overview of several challenges that involve Bitcoin and other
cryptocurrencies. After briefly discussing the underlying technology, it discusses challenges related to
cryptocurrencies that regulators face at this point in time. This includes issues regarding Initial Coin
Offerings and cryptocurrencies in general, as well as cryptocurrencies as an investment instrument. It
also includes an analysis of cryptocurrencies compared to the real economy. The article concludes that
scholars are not unanimous regarding the regulation of Bitcoin and cryptocurrencies, and that
cryptocurrencies, at least up till now, do no follow trends of the real economy.
References
Brito, J. et al. (2014). Bitcoin Financial Regulation: Securities, Derivatives, Prediction Markets, and
Gambling. Columbia Science and Technology Review.
Brito, J. et al. (2013). Bitcoin: a Primer for Policymakers. Mercatus Center, George Mason University.
Chen, D.L.K.; Guo, L. & Wang, Y. (2017). Cryptocurrency: A New Investment Opportunity?
Chocan, U.W. (2017). Initial Coin Offerings (ICOs): Risks, Regulation, and Accountability. University
of New South Wales, Canberra Discussion Paper.
Coindesk (2014). Dutch Official Downplays Law Enforcement Need for Bitcoin Ban.
Cvetkova, I. (2018). Cryptocurrencies legal regulation. Brics Law Journal, no. 5(2), pp. 132-135.
Filippi, P.D. (2014). Bitcoin: A Regulatory Nightmare to a Libertarian Dream. Social Science
Electronic Publishing, Vol. 3, pp. 5-9.
Filippi, P. (2014). Bitcoin: A Regulatory Nightmare to a Libertarian Dream. Internet Policy Review.
Gruber, S. (2013). Trust, Identity, and Disclosure: Are Bitcoin Exchanges the Next Virtual Havens for
Money Laundring and Tax Evasion? Quinnipiac Law Review, 32, p. 1.
Ishikawa, M. (2017). Designing Virtual Currency Regulation in Japan. Journal of Financial Regulation,
March, 3(1), p. 126.
J.P. (2011). Virtual Currency: Bits and Bob. The Economist.
Kaplanov, N.M. (2012). Nerdy Money: Bitcoin, the Private Digital Currency, and the Case Against Its
Regulation. Loyola Consumer Law Review, 111.
Kleiman, J.A. (2013) Beyond the Silk Road: Unregulated Decentralized Virtual Currencies Continue
to Endanger US National Security and Welfare. American University National Security Law Brief.
Mokhtarian, E. et al. (2017). Rise of the Crypto Hedge Fund: Operational Issues and Best Practices for
Emergent Investment Industry. Stanford Journal of Law, Business, and Finance, forthcoming 2018.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
Read, O.G.K. (2018). EU regulation of Bitcoin and other virtual currencies: first steps.
Wirtschaftsdienst. Journal for Economic Policy, 13 July, no. 98(7), p. 504.
Reid, F. et al. (2011). An analysis of anonymity in the bitcoin system. In Privacy, security, risk and
trust. The third international conference on social computing, pp. 1318-1326. IEEE.
Reuters (2014). Police need powers to tackle virtual money laundering: Europol.
Stokes, R. (2012). Virtual money laundering: the case of bitcoin and the Linden dollar. Information &
Communications Technology Law, 21(3), pp. 221-236.
Twomey, P. (2013). Halting a Shift in the Paradigm: The Need for Bitcoin Regulation. Trinity College
Law Review, Vol. 16.
Utkin, V.Y.A. (2018). Analysis of International Practices in Regulating Legal Relations Connected
with Economic Turnover of Digital Financial Assets. Anking, Vol. 3, pp. 66-69.
Wang, Y.G.J. (2018). A Regulation Scheme Based on the CiphertextPolicy Hierarchical Attribute-
Based. IEEE ACCESS, 12 March, Vol. 6, pp. 16267-16268.
Y.K. (2018). A court without a law: the legal regime of cryptocurrency in a bankruptcy case. Economic
policy. Economics and Law, Vol. 13, Nr. 6, p. 123.
Zetzsche, D. et al. (2018) The ICO Gold Rush: It’s a scam, it’s a bubble, it’s a super challenge for
regulators. EBI Working Paper Series, no. 18.
Gambling. Columbia Science and Technology Review.
Brito, J. et al. (2013). Bitcoin: a Primer for Policymakers. Mercatus Center, George Mason University.
Chen, D.L.K.; Guo, L. & Wang, Y. (2017). Cryptocurrency: A New Investment Opportunity?
Chocan, U.W. (2017). Initial Coin Offerings (ICOs): Risks, Regulation, and Accountability. University
of New South Wales, Canberra Discussion Paper.
Coindesk (2014). Dutch Official Downplays Law Enforcement Need for Bitcoin Ban.
Cvetkova, I. (2018). Cryptocurrencies legal regulation. Brics Law Journal, no. 5(2), pp. 132-135.
Filippi, P.D. (2014). Bitcoin: A Regulatory Nightmare to a Libertarian Dream. Social Science
Electronic Publishing, Vol. 3, pp. 5-9.
Filippi, P. (2014). Bitcoin: A Regulatory Nightmare to a Libertarian Dream. Internet Policy Review.
Gruber, S. (2013). Trust, Identity, and Disclosure: Are Bitcoin Exchanges the Next Virtual Havens for
Money Laundring and Tax Evasion? Quinnipiac Law Review, 32, p. 1.
Ishikawa, M. (2017). Designing Virtual Currency Regulation in Japan. Journal of Financial Regulation,
March, 3(1), p. 126.
J.P. (2011). Virtual Currency: Bits and Bob. The Economist.
Kaplanov, N.M. (2012). Nerdy Money: Bitcoin, the Private Digital Currency, and the Case Against Its
Regulation. Loyola Consumer Law Review, 111.
Kleiman, J.A. (2013) Beyond the Silk Road: Unregulated Decentralized Virtual Currencies Continue
to Endanger US National Security and Welfare. American University National Security Law Brief.
Mokhtarian, E. et al. (2017). Rise of the Crypto Hedge Fund: Operational Issues and Best Practices for
Emergent Investment Industry. Stanford Journal of Law, Business, and Finance, forthcoming 2018.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System.
Read, O.G.K. (2018). EU regulation of Bitcoin and other virtual currencies: first steps.
Wirtschaftsdienst. Journal for Economic Policy, 13 July, no. 98(7), p. 504.
Reid, F. et al. (2011). An analysis of anonymity in the bitcoin system. In Privacy, security, risk and
trust. The third international conference on social computing, pp. 1318-1326. IEEE.
Reuters (2014). Police need powers to tackle virtual money laundering: Europol.
Stokes, R. (2012). Virtual money laundering: the case of bitcoin and the Linden dollar. Information &
Communications Technology Law, 21(3), pp. 221-236.
Twomey, P. (2013). Halting a Shift in the Paradigm: The Need for Bitcoin Regulation. Trinity College
Law Review, Vol. 16.
Utkin, V.Y.A. (2018). Analysis of International Practices in Regulating Legal Relations Connected
with Economic Turnover of Digital Financial Assets. Anking, Vol. 3, pp. 66-69.
Wang, Y.G.J. (2018). A Regulation Scheme Based on the CiphertextPolicy Hierarchical Attribute-
Based. IEEE ACCESS, 12 March, Vol. 6, pp. 16267-16268.
Y.K. (2018). A court without a law: the legal regime of cryptocurrency in a bankruptcy case. Economic
policy. Economics and Law, Vol. 13, Nr. 6, p. 123.
Zetzsche, D. et al. (2018) The ICO Gold Rush: It’s a scam, it’s a bubble, it’s a super challenge for
regulators. EBI Working Paper Series, no. 18.
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Published
2021-07-01
How to Cite
Collective Authors. (2021). International Economics: Array. Acta Universitatis Danubius. Œconomica, 15(3). Retrieved from https://dj.univ-danubius.ro/index.php/AUDOE/article/view/1216
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