The Crypto-Currency Conundrum: Regulating an Uncertain Future
58 Pages Posted: 14 Aug 2016
Date Written: 2015
Ed Howden proposes that regulatory bodies, whether international entities or national governments, must delicately undertake the regulation of all cryptos — including bitcoin. Conflicting cryptos rules across borders are not necessarily a recipe for disaster. However, heavy-handed and cumbersome regulation will spark innovation to circumvent these controls and foster the development of new cryptos, reducing demand for the established cryptos and harming the international economy. Howden highlights how past suggestions for reconciling bitcoin to the purview of the International Monetary Fund were flawed. Ultimately, Howden examines ways in which the WTO, despite its flaws, can assert guidance for the crypto-currency industry; and why, given the current global entity structure, WTO regulation is the optimal available approach.
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