The Rise of the Corporate-Issued Cryptocurrency

36 Pages Posted: 13 Mar 2020

See all articles by Lynlie Wallace

Lynlie Wallace

St. Mary's University - School of Law

Date Written: December 12, 2019

Abstract

This paper explores the response to the Libra project by U.S. regulators and identifies issues that need to be addressed if a corporate-issued cryptocurrency like the Libra is introduced into the marketplace. Part I will provide context for the regulatory challenges facing the Libra and explore the idea of privatizing money. Part II will consider proposed approaches to regulating the Libra in the United States, chiefly the “Keep Big Tech Out of Finance Act” and examine the effect of moratoriums on innovation. Part III will discuss whether Facebook’s involvement in the Libra project is the reason for the ire it has drawn from regulators. Part IV will examine regulatory challenges facing the Libra and identify questions that must be answered to address the issuance of cryptocurrencies by corporations.

Keywords: Cryptocurrency, Libra, FinTech, Regulation, Privatization, Monetary Policy

Suggested Citation

Wallace, Lynlie, The Rise of the Corporate-Issued Cryptocurrency (December 12, 2019). Available at SSRN: https://ssrn.com/abstract=3538925 or http://dx.doi.org/10.2139/ssrn.3538925

Lynlie Wallace (Contact Author)

St. Mary's University - School of Law ( email )

One Camino
San Antonio, TN 78228
United States

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