Taming the blockchain beast? Regulatory implications for the cryptocurrency Market

Shanaev, Savva; Sharma, Satish Kumar; Ghimire, Binam; Shuraeva, Arina

doi:10.1016/j.ribaf.2019.101080

Cited by 88 publications

(49 citation statements)

References 29 publications

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“…Kristoufek [5] found that the price of Bitcoin was significantly and positively correlated with public interests measured by Google Trends and Wikipedia queries, as well as technical indexes, such as hash rates and mining difficulty, in the long run. Moreover, the cryptocurrency market' performance has also been found to be related to media exposure [6,7], policies and regulations [8,9], and other financial assets [10,11], all revealing the inefficiency of the market.…”

Section: Introductionmentioning

confidence: 99%

Co-Investment Network of ERC-20 Tokens: Network Structure Versus Market Performance

Liu

2021

Front. Phys.

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Cryptocurrencies have attracted extensive attention from individual and institutional investors in recent years. In this emerging and inefficient capital market, the roles that institutional investors play can have a remarkable impact on the market. This paper investigates the ERC-20 token investment market from a network perspective. Using a dataset containing 317 ERC-20 tokens and their institutional investors at the end of June 2020, we construct a co-investment network of tokens connected by the sharing of institutional investors. Specifically, we examine whether the tokens’ market embeddedness, measured by their network structural properties, can influence their market performance, as well as whether the tokens’ structural similarity in the co-investment network can influence similarity of their market performance. Our results indicate that strength centrality, closeness centrality, betweenness centrality, and clustering coefficient have a significant impact on trading volume and liquidity of the market. And there is a significantly positive correlation between the Jaccard similarity index and tokens’ market performance similarity. This work demonstrates the non-negligible influence of the institutional investors and the diffusion of such influence through co-investment relationships in the cryptocurrency market. We expect the analysis could further enhance the understanding of the inefficiency and vulnerability of this emerging market.

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Section: Introductionmentioning

confidence: 99%

Co-Investment Network of ERC-20 Tokens: Network Structure Versus Market Performance

Liu

2021

Front. Phys.

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“…In addition, the technology of transactions in distributed registries virtually eliminates the identification of persons making them. Participants in a distributed registry see only the transaction object (digital asset) but not its owner, whose anonymity is ensured through the creation of a digital wallet (Shanaev, Sharma, Ghimire and Shuraeva, 2020). This wallet is used to record digital assets and is tied to the IP address of a specific computer.…”

Section: Discussionmentioning

confidence: 99%

The legal status of tokens and their inheritance

et al. 2020

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This article considers the legal status of tokens, their specifics and distinctive features, as well as the possibility of inheriting this digital asset. The study aims at analyzing the legal nature and classification of tokens, as well as the specifics of their inheritance. While conducting this research, it has been used the methods of collecting and studying singularities, generalization, scientific abstraction, cognition of objective laws, objectivity, specificity and pluralism. It has been concluded that a token is an entry in the transaction block registry (blockchain) or other distributed information systems, which certifies that the token owner is entitled to civil law protections and/or is a cryptocurrency. It has been proved that tokens by their legal nature are digital units of accounting in the participating interest shares of entrepreneurial projects and authorized capitals of any company, digital price analogues of uncertificated securities and other objects of civil law. It has been developed a classification of tokens and emphasized the need to create an electronic data warehouse that contains access codes for these digital assets. After the testator’s death, these codes can be given to the heir by testament or by law in case the testator did not draw up the corresponding testament during their life. These conclusions and suggestions will allow to legally qualify tokens and resolve inheritance issues in this area.

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“…Cryptocurrency has appeared owing to the use of certain technology such as blockchain which makes it possible to exchange resources in electronic form. The idea of implementation and application of such asset as cryptocurrency is stipulated by the elimination of the participation of controlling parties to support certain liveness of the developed infrastructure (Kinash et al, 2019;Andrusiv et al, 2020;Shanaev et al, 2020). At the same time, there is a possibility to exchange resources between the unknown people who do not trust each other.…”

Section: Literature Reviewmentioning

confidence: 99%

Accounting and features of mathematical modeling of the system to forecast cryptocurrency exchange rate

Tarasova¹,

Usatenko²,

Makurin³

et al. 2020

10.5267/j.ac

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The objective of this paper is to determine the basic features of the use of mathematical modeling of the system to forecast cryptocurrency exchange rate. The study determines that cryptocurrency is the simplest investment asset being and, at the same time, the riskiest one. Advantages and disadvantages of cryptocurrency use are specified. Advantages include: code openness, anonymity, decentralization, emission, and reliability. Disadvantages include lack of guarantees, instability, risk of prohibition and possible loss. A model to forecast bitcoin cryptocurrency exchange rate is proposed and substantiated mathematically. The observations are the basis to develop a hypothesis: the faster the cryptocurrency (e.g. bitcoin) is mined, the more difficult it is to forecast bitcoin cryptocurrency exchange rate. Certain factors emphasize which may affect the cryptocurrency exchange rate: trade wars of the USA with other export-oriented world economies (China); advent of IEO as the alternative for ICO and new drivers connected with the interest in cryptocurrency; FATF recommendations for market control, the entry of world giants (e.g. Facebook) into the crypto-market and the development of the stablecoin market.

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Taming the blockchain beast? Regulatory implications for the cryptocurrency Market

Cited by 88 publications

References 29 publications

Co-Investment Network of ERC-20 Tokens: Network Structure Versus Market Performance

Co-Investment Network of ERC-20 Tokens: Network Structure Versus Market Performance

The legal status of tokens and their inheritance

Accounting and features of mathematical modeling of the system to forecast cryptocurrency exchange rate

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