Stablecoin as a New Financial Instrument

Sidorenko, E. L.

doi:10.1007/978-3-030-27015-5_75

Cited by 28 publications

(15 citation statements)

References 2 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Stablecoins, backed by either fiat currencies or commodities, are designed to be price-stable cryptocurrencies (Mita et al, 2019;Sidorenko, 2020;Wei, 2018). Take Tether, a stablecoin pegged to USD with an anchor at $1, for example.…”

Section: Introductionmentioning

confidence: 99%

Are Stablecoins Safe Havens for Traditional Cryptocurrencies? An Empirical Study during the COVID-19 Pandemic

Xie

Kang

Zhao³

2021

AFL

View full text Add to dashboard Cite

We investigate whether stablecoins are safe havens for traditional cryptocurrencies with fresh evidence from the recent crisis period of the COVID-19 pandemic. Our results support the safe-haven properties of Tether for both before and during the pandemic. For Digix, a gold-backed stablecoin with relatively small market capitalization, we find a change in characteristics before and during the pandemic, but do not find statistically significant evidence for its safe-haven properties. Furthermore, we document that, when considering the economic benefits and costs of adding safe-haven assets into cryptocurrency portfolios, the one with Tether outperforms both a naked portfolio and the portfolio with a traditional safe-haven asset such as gold.

show abstract

Section: Introductionmentioning

confidence: 99%

Are Stablecoins Safe Havens for Traditional Cryptocurrencies? An Empirical Study during the COVID-19 Pandemic

Xie

Kang

Zhao³

2021

AFL

View full text Add to dashboard Cite

show abstract

“…Spurred by Facebook's activity, FINMA has developed a classification of stablecoins, according to which stablecoin can be linked to the value of Fiat currencies, exchange-traded goods, real estate or securities (Girich, 2019;Sidorenko, 2020). This document is one of the most detailed studies on the essence and varieties of stablecoins.…”

Section: Resultsmentioning

confidence: 99%

Peculiarities Of Legal Regulation Of Crypto Assets In Switzerland

Иноземцев¹

2020

European Proceedings of Social and Behavioural Sciences

View full text Add to dashboard Cite

The subject of this research covers peculiarities of legal regulation of crypto-assets in Switzerland as one of the friendliest jurisdictions for the development of crypto business. The purpose of this article is to review the current state and trends in the legalization of crypto-assets in Switzerland in the context of global trends in the crypto market regulation. The main research tasks are: analyze possible risks that arise during the issuance and turnover of crypto assets; consider existing classifications of digital assets; review the legal regulation in the area, etc. Special attention is paid by the author to issues of taxonomy and typology of crypto-assets, ICO requirements, as well as the development of civil legislation in the era of civil turnover digitalization. The methodology of the study comprises comparative, formal-legal and functional methods, systemic approach. The study of the modern state and trends of the legalization of crypto-assets in Switzerland, as well as in other advanced crypto-jurisdictions, has an undoubted theoretical and practical importance, as it allows forming the domestic doctrine of civil-law turnover of digital assets, and developing optimal legal regimes, adequate to the current market conditions, and awareness tools for creating models of legal regulation of digital assets in Russia.

show abstract

“…Soon, the strengthening of financial stability in the EU continued with a new, modernized project called "A Deeper and Fairer EMU". This has led to the reformatting of more private projects (Sidorenko, 2020), which now generally look like an economic union, a financial union (including a banking union and a capital markets union), a fiscal union (Turkina, 2019); and a political union. As documentary (political and legal) milestones of the movement to this project, the following can be called: In 2015, the heads of the European Commission, the European Parliament, the European Central Bank, the European Council and the Eurogroup published the Five Presidents' Report (European Commission, 2015).…”

Section: Resultsmentioning

confidence: 99%