A Light Touch of Regulation for Virtual Currencies
With the rise of Bitcoin, governments are increasingly concerned about the risks that the market will face as a result of these virtual currencies. This chapter considers the virtual currency landscape from a market supervisory perspective. First, Bitcoin is introduced as a type of virtual currency known as a decentralized cryptocurrency, and the main participants in such a market are identified. A brief on the legitimate uses and potentially regulable risks of virtual currencies is then provided before the wide-ranging spectrum of existing regulatory approaches and opinions is surveyed. Finally, this chapter concludes by recommending a light-touch approach to the regulation of cryptocurrencies like Bitcoin.
Virtual currency, Bitcoin regulation, Financial services, Comparative law, Light-touch regulation, Risk management
Business | E-Commerce
Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data
Lee, David K. C.
Elsevier Academic Press
City or Country
LAM, Pak Nian and LEE, David K. C..
A Light Touch of Regulation for Virtual Currencies. (2015). Handbook of Digital Currency: Bitcoin, Innovation, Financial Instruments, and Big Data. 309-326. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/4212