The Case for a 21 Million Bitcoin Conspiracy
13 Pages Posted: 8 Mar 2018
Date Written: March 7, 2018
Bitcoin and many other cryptocurrencies have currency-caps implemented in their protocols. Bitcoin is capped at approximately 21 million bitcoins. These protocols are complied with by consenting operators. This paper discusses whether such currency-caps are illegal quantity-fixing conspiracies in violation of antitrust law. It is found that there is a present antitrust risk for cryptocurrency operators. This may render such operators subject to criminal and civil liabilities.
Keywords: antitrust law, competition law, cryptocurrencies, fintech, monetary theory
JEL Classification: K21, K22, E42, E51
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