THE IMPORTANCE OF REGULATIONS ON CRYPTOCURRENCY TRANSACTIONS
PDF

Keywords

Cryptocurrency, Regulations, Anonymity

Abstract

Cryptocurrencies are considered to be anonymous digital currencies. It is believed that many illegal activities, including money laundering, are financed by them. Therefore, governments try to enforce laws to regulate, or in some cases totally abandon, the use of cryptocurrencies. This study analyses the importance of regulating the cryptocurrency transactions. It is seen that cryptocurrencies are not so anonymous due to technological advancements and persons who engage in cryptocurrency transactions can be identified. Therefore, regulating cryptocurrency transactions are not as important as it was once thought.

PDF

References

Berg, C., Davidson, S. and Potts, J., 2018. The Blockchain Economy: A beginner’s guide to institutional cryptoeconomics [online]. Available at: <https://medium.com/@cryptoeconomics/the-blockchain-economy-a-beginners-guide-to-institutional-cryptoeconomics-64bf2f2beec4> [Accessed on 3 May 2018].

Catalini, C. and Gans, J.S., 2017. Some Simple Economics of the Blockchain. Rotman School of Management, Working Paper No. 2874598 and MIT Sloan, Research Paper No. 5191-16.

Dimitri, N., 2017. The Blockchain Technology: Some Theory and Applications. Maastricht School of Management, Working Paper No. 2017/03, [online] Available at: <https://www.msm.nl/resources/uploads/2017/10/Working-Paper-No.-2017-3.pdf> [Accessed on 17 May 2018].

Fleder, M., Kester, M. S. and Pillai, S., 2015. Bitcoin Transaction Graph Analysis. eprint arXiv:1502.01657.

Global Legal Research Center, 2018. Regulation of Cryptocurrency Around the World. The Law Library of Congress, USA, [online] Available at: < https://www.loc.gov/law/help/cryptocurrency/cryptocurrency-world-survey.pdf> [Accessed 30 April 2019].

Icaew IT Faculty, 2017. Blockchain and the Future of Accountancy, [online] Available at: <https://www.icaew.com/-/media/corporate/files/technical/information-technology/technology/blockchain-and-the-future-of-accountancy.ashx> [Accessed on 17 May 2018].

Meiklejohn, S., Pomarole, M., Jordan, G., Levchenko, K., McCoy, D., Voelker, G.M. and Savage, S., 2013. A Fistful of Bitcoins: Characterizing Payments Among Men with No Names. In: IMC '13 Proceedings of the 2013 Conference On Internet Measurement Conference, Barcelona, Spain, October 23 - 25, 2013, p. 127-140.

Nakamoto, S., 2008. Bitcoin: A Peer – to – Peer Electronic Cash System, [online] Available at: <https://bitcoin.org/bitcoin.pdf> [Accessed on 8 August 2018].

Narayanan, A., Bonneau, J., Felten, E., Miller, A. and Goldfeder, S., 2016. Bitcoin and Cryptocurrency Technologies. USA: Princeton University Press.

Nick, J. D., 2015. Data-Driven De-Anonymization in Bitcoin, [online] Available at: <https://www.research-collection.ethz.ch/handle/20.500.11850/155286> [Accessed on 6 September 2018].

ShenTu, Q. C. and Yu J. P., 2015. Research on Anonymization and De-anonymization in the Bitcoin System. arXiv:1510.07782 [cs.CR].

Yilmaz, K. N. and Hazar, B. H., (2018). Predicting Future Cryptocurrency Investment Trends by Conjoint Analysis. Journal of Economics, Finance and Accounting (JEFA), V.5(4).

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.