Handbook of the History of Money and Currency

doi:10.1007/978-981-13-0596-2

Cited by 10 publications

(1 citation statement)

References 61 publications

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“…Money, a fundamental concept in human societies, has evolved significantly over time to facilitate economic transactions and exchange of value. Throughout history, money has taken various forms, from natural commodities such as shells and salt, to precious metals such as gold, to paper and plastic notes backed by governments or central banks (Battilossi et al, 2020;Davies, 1994). The latest innovation in money is the emergence of cryptocurrencies, which are digital tokens that use blockchain technology to enable decentralized and secure peer-to-peer transactions without intermediaries (Nakamoto, 2008;Buterin, 2013).…”

Section: Introductionmentioning

confidence: 99%

Regulatory constraints, responsibilities and consultation (CRC) for legal institutionalization of cryptocurrencies in Pakistan

Khan,

Ullah,

Atiq

2023

QRFM

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Purpose This study aims to synthesize the existing literature with insights gained from interviews conducted with regulatory experts. The objective is to analyse the challenges associated with incorporating cryptocurrencies into regulatory frameworks and to explore constraints in the regulatory institutionalization of cryptocurrencies. Design/methodology/approach The study methodology consists of two steps. The first step is to identify regulatory constraints in the literature review and in the next step, interviews are conducted with officials of the State Bank of Pakistan (SBP). The study used a qualitative case study methodology, in which a single case (regulatory constraint) was selected as a unit of analysis. Findings The findings show that lack of traceability, legal status, lack of governmental control due to decentralization, difficulty enforcing laws, volatility, lack of skills with regulators and difficulty integrating cryptocurrencies into the current financial system are the main obstacles to the introduction of a regulatory framework. Thus, on a broader conceptual level, the findings can be grouped into opportunism, lack of strategic capability and fragmented global laws. Research limitations/implications This study could inform global cryptocurrency regulation discussions, sharing a developing country’s views on balancing the government, central banks, the financial sector and public interests. This could guide countries to consider cryptocurrency adoption in similar situations. This could affect the cryptocurrency market, impacting demand, supply and investor trust in Pakistan. Practical implications The study has implications for policy making officials. The research aims to offer valuable insights to the SBP and other regulatory authorities, helping them identify potential risks and create an effective regulatory framework for cryptocurrencies. Social implications The study has implications for society in knowing about the volatile nature of cryptos and anonymity of their issuers, which poses regulatory constraints. This then implies its harmfullness to its traders and the huge losses that may arise from their trading due to its volatile nature. Originality/value This study contributes to the literature on the constraints, responsibilities and consultation framework of cryptocurrency regulations.

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Section: Introductionmentioning

confidence: 99%

Regulatory constraints, responsibilities and consultation (CRC) for legal institutionalization of cryptocurrencies in Pakistan

Khan,

Ullah,

Atiq

2023

QRFM

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Modern China's financial obligations and strategies, 1901–1925: the depreciation of tael, the Austrian loans and the gold franc

Chang

Kao

2023

International Journal of Asian Studies

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The financial burden of the Boxer Indemnity forced the Chinese government to change its behaviours since 1901. This article re-examines the position that the decision to honour indeminity obligations enabled the Chinese state to maintain peaceful relations with western powers during the first quarter of the twentiety century. The 1901 edict affirming that China would re-examine its capacity to satisfy its international commitments. Before this edict, China had selectively followed its Sino-foreign treaties, but thereafter, China completely assumed all of her financial obligations to foreign creditors. These changes in behaviour helped China restore its deteriorated foreign relations and were followed by Provisional Executive Duan Qirui until 1925. These changes can be illustrated by three cases, namely the depreciation of tael, the Austrian loans, and the gold franc. The cases were highly international as the first concerned eleven foreign creditors, the second concerned two, and the third concerned three. From 1901–1925, foreign powers also provided China with reciprocal favours in exchange for China's responsible behaviours. Eventually, China retrieved its tariff autonomy in 1930.

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How Is Money Driven? The Case in Shanghai (1949–1950)

2023

Journal of Economic Issues

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Handbook of the History of Money and Currency

Cited by 10 publications

References 61 publications

Regulatory constraints, responsibilities and consultation (CRC) for legal institutionalization of cryptocurrencies in Pakistan

Regulatory constraints, responsibilities and consultation (CRC) for legal institutionalization of cryptocurrencies in Pakistan

Modern China's financial obligations and strategies, 1901–1925: the depreciation of tael, the Austrian loans and the gold franc

How Is Money Driven? The Case in Shanghai (1949–1950)

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