Bitcoin: Its condition and tendencies

Šmigić-Miladinović, Jasmina

doi:10.5937/ekonomika1804107s

Ekonomika

2018

DOI: 10.5937/ekonomika1804107s

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Bitcoin: Its condition and tendencies

Jasmina Šmigić-Miladinović¹

Abstract: BiTcOin-iTs cOndiTiOn and Tendencies abstrakt The appearance of cryptocurrency marks the arrival of a new unlimited global system with no intermediaries and costly intercontinental transactions. Digital money would make it possible for us to have significantly quicker and cheaper transactions, which, along with present technology, is considered inevitable in the future. This paper includes three topics and deals with the bitcoin phenomenon and its influence on economic growth. The paper presents the bitcoin te… Show more

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Virtual money laundering: policy implications of the proliferation in the illicit use of cryptocurrency

Leuprecht

Jenkins

Hamilton

2022

JFC

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Purpose This study aims to explain how cryptocurrency is leveraged for illicit purposes across the global financial system. Specifically, it establishes how cryptocurrency has been changing the nature of transnational and domestic money laundering (ML). It then assesses the effectiveness of conventional anti-money laundering (AML) policy and legislation against the proliferation of crypto laundering, using Canada as a critical case study. Design/methodology/approach Data was collected from court cases and secondary sources to build cross-case trends of cryptocurrency use in ML. Illicit International Political Economy forms the theoretical foundation for this study, whose contribution is situated in the current literature on crypto-ML. Findings This study finds that Bitcoin is common among crypto-money launderers, though most also use some form of alt-coin, and that the use of third-party currency exchanges is a prevalent method to create illicit funds and conceal proceeds of crime. The findings validate two hypotheses that illicit use of crypto is prevalent in the first two stages of ML, and that crypto is most often used in conjunction with other fiat currencies. Although law enforcement is improving on monitoring and understanding popular cryptocurrencies such as Bitcoin, alt-coins pose a significant challenge for criminal intelligence. New regulations for third-party currency exchanges are having a positive impact on curtailing crypto-laundering but are shown to be insufficient per se to contain the use of crypto in criminal activity. Originality/value This study contributes to a more robust understanding of the use of virtual currency in transnational and domestic ML. It contributes to an emerging body of literature on the role of technological change in enabling the global flow of illicit funds. It also informs public policy on virtual currency in general, and on AML regulation in Canada in particular.

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Virtual money laundering: policy implications of the proliferation in the illicit use of cryptocurrency

Leuprecht

Jenkins

Hamilton

2022

JFC

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Testing the causality between Bitcoin price and the gold price in the global market prime by Granger's test

Dončić¹

2020

Ekonomika

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The paper examines the existence of a causal relationship in Grangers' sense between the movement of Bitcoin prices and the price of gold at the global financial market, in order to answer the question whether it is possible to predict the movement of the Bitcoin price based on the movement of the price of gold in the world market, but also vice versa. The survey was conducted from January 1, 2019 to December 1, 2019. In the research was used the Granger causality test (1969). The research results show that historical data on the movement of gold prices in the world market cannot be used to predict the change in value and price movements of Bitcoin. On the other hand, the survey results indicate the possibility of a reliable application of the use of historical data on the movement of value and price of Bitcoin.

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Bitcoin: Its condition and tendencies

Cited by 2 publications

References 4 publications

Virtual money laundering: policy implications of the proliferation in the illicit use of cryptocurrency

Virtual money laundering: policy implications of the proliferation in the illicit use of cryptocurrency

Testing the causality between Bitcoin price and the gold price in the global market prime by Granger's test

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