Regulating Cryptoexchanges

Posted: 11 Feb 2020 Last revised: 5 Mar 2020

See all articles by Syren Johnstone

Syren Johnstone

Faculty of Law, University of Hong Kong; Asian Institute of International Financial Law

Date Written: August 1, 2019

Abstract

The component parts of a more complete market system in digital assets are steadily being assembled. The initial focus on the primary market has increasingly expanded to the secondary market. An increasingly important subject of regulatory concern is the activities of cryptoexchanges. This article reviews different cryptoexchange models and the responses of regulatory agencies. It considers the pathway issues for the development of a regulated secondary market in digital assets and explores the conditions necessary for regulatory development that avoids reshaping and confining the possibilities offered by cryptographic consensus technology (“CCTech”).

Keywords: Crypto, Cryptocurrency, Cryptoexchange, SEC, SFC, FCA, Digital Asset, Virtual Asset, Exchange Regulation, Securities Regulation, ICO, STO, Initial Coin Offering, Securities Token Offering

Suggested Citation

Johnstone, Syren, Regulating Cryptoexchanges (August 1, 2019). Hong Kong Lawyer, August 2019, University of Hong Kong Faculty of Law Research Paper No. 2020/003, Available at SSRN: https://ssrn.com/abstract=3521227

Syren Johnstone (Contact Author)

Faculty of Law, University of Hong Kong ( email )

Faculty of Law, Pokfulam Road
Pokfulam
Hong Kong
Hong Kong

HOME PAGE: http://www.law.hku.hk/academic_staff/syren-johnstone/

Asian Institute of International Financial Law ( email )

Faculty of Law, Pokfulam Road
Pokfulam
Hong Kong
Hong Kong

HOME PAGE: http://www.law.hku.hk/academic_staff/syren-johnstone/

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