Cryptocurrencies and illicit practices: The role of governance

Gonzálvez-Gallego, Nicolás; Pérez-Cárceles, María Concepción

doi:10.1016/j.eap.2021.08.003

Cited by 19 publications

(3 citation statements)

References 31 publications

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“…The only regulation concerning ecommerce is the President's Regulation No. 74 of 2017 concerning road map e-commerce for 2017-2019(Gonzálvez-Gallego & Pérez-Cárceles, 2021. However, this regulation is too broad to cover the problem of e-commerce.…”

Section: Resultsmentioning

confidence: 99%

Detection of Digital Law Issues and Implication for Good Governance Policy in Indonesia

Marwan

Garduño²,

Bonfigli³

2022

BESTUUR

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<div><table cellspacing="0" cellpadding="0" align="left"><tbody><tr><td align="left" valign="top"><p class="AbstractText">The concept of good governance is essential to be utilized to analyze updating digital law and society. However, at the practical level, it can still be seen the lack of implementation of the principle of properness, transparency, effectiveness, accountability, participation, and human rights by the government to respond to the economic growth and criminal trend within the digital era. This study discusses good governance as a concept that can be used to analyze digital law and society. Especially in the cybercrime and e-businesses in Indonesia, the concept of good governance may utilize the social impact. This study uses socio-legal research, which combines interviews and literature review. This article will start to discuss the relevance of the study of good governance, digital law, and society in Indonesia's social and judicial context with the Electronic Information Transaction Law. This study concludes that during the growth of the digital economy, Indonesia has suffered from cyber-attacks, scams, phishing, malware injection, etc., which may need more extraordinary law enforcement. At the same time, the increasing number of e-commerce, fintech, social media, digital start-up, etc., need support from proper facilitation by the government. Good governance may provide a tool to cover the objective and balance its outcomes in the digital era.</p></td></tr></tbody></table></div>

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Section: Resultsmentioning

confidence: 99%

Detection of Digital Law Issues and Implication for Good Governance Policy in Indonesia

Marwan

Garduño²,

Bonfigli³

2022

BESTUUR

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“…According to Choo (2015), those who engage in bribery and corruption would constantly look for new opportunities to commit crimes, launder money obtained via corruption and avoid detection by law enforcement and other government authorities. This sort of corruption includes using cryptocurrencies to finance terrorists, digital currency frauds, online fraud, e-banking system security, Internet banking fraud, transnational financial crime and the use of machine learning in banking (Choo, 2015;Gonz alvez-Gallego and P erez-C arceles, 2021;Kelley et al, 2023;Moreira et al, 2022;Sun et al, 2023;Wodo et al, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

Political stability and corruption nexus: an international perspective on European and Asian countries

Beju,

Ciupac-Ulici,

Bresfelean

2024

JRF

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PurposeThis paper aims to investigate the impact of political stability on corruption by drawing upon a sample encompassing both developed and developing European and Asian countries.Design/methodology/approachThe dataset, sourced from the Refinitiv database, spans from July 2014 to May 2022. Panel data techniques, specifically pooled estimation and dynamic panel data [generalized method of moments (GMM)] are employed. The analysis encompasses both fixed and random effects models to capture country-specific cross-sectional effects. To validate our findings, we perform a robustness test by including in the investigation four control variables, namely poverty, type of governance, economic freedom and inflation. To test heterogeneity, the dataset is further divided into two distinct subsamples based on the countries’ locations.FindingsEmpirical findings substantiate that political stability (viewed as the risk of government destabilization) has a positive and significant impact on corruption in all analyzed samples of European and Asian countries, though some differences are observed in various subsamples. When we take into account the control variables, these analysis results are robust.Research limitations/implicationsThis research provided a panel data analysis with GMM, while other empirical methodologies could also be used, like the difference-in-difference approach. However, our results should be validated by extending the time and the sample to a worldwide sample and using alternative measures of corruption and political stability. Moreover, our focus was on a linear and unidirectional relationship between the considered variables, but it would be interesting to test in our further research a non-linear and bidirectional correlation between them. Furthermore, we have introduced in the robustness test only four economic variables, but to consolidate our findings, we plan to include socioeconomic and demographic variables in future studies.Practical implicationsThese outcomes imply that authorities should be aware of the necessity of implementing anti-corruption policies designed to establish effective agencies and enforcement structures for combating systemic corruption, to improve the political environment and the quality of institutions and to apply coherent economic strategies to accelerate economic growth because higher political stability and sustainable development determine a decrease in levels of corruption.Social implicationsAt the microeconomic level, the survival of organizations may be in danger from new types of corruption and money laundering. Therefore, in order to prevent financial harm, the top businesses worldwide should respond to instances of corruption through strengthened supervisory procedures. This calls for the creation of a mechanism inside the code of conduct where correct reporting of suspected situations of corruption would have a prompt procedure to be notified of. To avoid corruption in operational procedures, national plans and policies should be developed by government officials, executives and legislators on a national level, as well as by senior management and the board of directors on an organizational level. This might lower organizations' extra corruption-related expenses, assure economic growth and improve global welfare.Originality/valueA novel feature of our research resides in its broad examination of a sizable sample of European and Asian countries regarding the nexus between corruption and political stability. The paper also investigates a less explored topic in economic literature, namely the impact of political stability on corruption. Furthermore, the study depicts policy recommendations, outlining effective and reasonable measures aimed at improving the political landscape and combating corruption.

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“…Nevertheless, participants in this market tend to hold portfolios that consist only of cryptocurrencies. The lack of clear regulations and protection for investors has led many institutional investors to remain cautious about entering the cryptocurrency market (Almeida & Gonc xalves, 2023;Giudici et al, 2020;Gonza´lvez-Gallego & Pe´rez-Ca´rceles, 2021;Raza et al, 2023). Meanwhile, cryptocurrencies have demonstrated potential as a diversification tool.…”

Section: Introductionmentioning

confidence: 99%

Making Informed Decisions in the Volatile Crypto Market: An Analysis of Portfolio Risk and Return

Nuhiu,

Aliu,

Horák

et al. 2023

Sage Open

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Despite widespread skepticism linked to cryptocurrencies, they are constantly gaining the interest of scholars, investors, media, and regulators. Recognizing the importance that portfolio risk maintains for crypto participants, this study attempts to shed light on this issue. We investigate the risk-return tradeoffs of the most tradable cryptocurrencies based on portfolio diversification techniques. Three different crypto portfolios containing a diverse number of cryptocurrencies were created to analyze the diversification risk from a historical perspective. Data concerning daily prices and their trade volume was collected from the Coin Market Cap database and covered the period from 1 January 2016 to 31 December 2022. The results regarding the risk-reward tradeoff stand in line with the portfolio theory, where higher expected returns offset higher risk. On average, the portfolio composed of 10 cryptocurrencies offers better optimization than the one with five, as it generates the same returns with lower risk. The year 2018 reflects the maximum diversification benefits in the three portfolios, corresponding to the period when cryptocurrencies gained massive popularity. From the managerial perspective, results inform crypto and institutional investors of the possible diversification benefits of the 15 most traded cryptocurrencies.

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Cryptocurrencies and illicit practices: The role of governance

Cited by 19 publications

References 31 publications

Detection of Digital Law Issues and Implication for Good Governance Policy in Indonesia

Detection of Digital Law Issues and Implication for Good Governance Policy in Indonesia

Political stability and corruption nexus: an international perspective on European and Asian countries

Making Informed Decisions in the Volatile Crypto Market: An Analysis of Portfolio Risk and Return

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