Crypto Regulation within the European Union

Download This Paper Open PDF in Browser Add Paper to My Library Share: Permalink Using these links will ensure access to this page indefinitely Copy URL Crypto Regulation within the European Union 26 Pages Posted: 26 Aug 2022 See all articles by Kamil WinnowiczKamil WinnowiczFOM University of Applied Sciences for Economics and ManagementCam-Duc AuMasaryk University, Department Finance, Faculty of Economics and Administration; FOM University of Applied Sciences - Frankfurt am MainDirk SteinFOM University of Applied Sciences for Economics and Management Date Written: July 1, 2021 Abstract Driven by the economic crisis in 2007 and the resulting distrust of governments and banks, Bitcoin is one of many conceivable applications that the blockchain technology behind it enables. Cryptocurrencies are primarily traded on unregulated online exchanges and deviate significantly from the original intention as an independent means of payment. Thus, the regulatory authorities are currently working hard on developing guidelines on how to put a legal framework around the vastly developing digital assets. The aim of this paper is to review the current regulatory guidelines for cryptocurrencies in the European area and to present the ongoing development. Furthermore, with the help of quantitative research technique, more in-depth knowledge and classification approaches are used to gain a broader impression of the regulation of cryptocurrencies. In doing so, measures are highlighted that serve to combat illegal use of the new currency. The regulations for the interoperability of cryptocurrencies with regulated financial companies must also be questioned to derive further insights into the influence on the Bitcoin price. The results show that individual countries such as Germany, Switzerland and Liechtenstein are more advanced in terms of the regulatory system for cryptocurrencies. However, these countries are too small and have an insignificant trade volume in relation to China and the USA, after which these countries could play a relevant role on the world market. If the European states do not act as a joint entity with the EU financial authorities on the world market, then international states will have a far lead and shape regulatory measures in the future. Keywords: Bitcoin, Blockchain, Digital Assets, Cryptocurrency, Regulation JEL Classification: F, G, N, O Suggested Citation: Suggested Citation Winnowicz, Kamil and Au, Cam-Duc and Stein, Dirk, Crypto Regulation within the European Union (July 1, 2021). Available at SSRN: https://ssrn.com/abstract=4194771 Kamil Winnowicz FOM University of Applied Sciences for Economics and Management Toulouser Allee 53Dusseldorf, 40476Germany Cam-Duc Au (Contact Author) Masaryk University, Department Finance, Faculty of Economics and Administration; FOM University of Applied Sciences - Frankfurt am Main ( email ) Frankfurt am Main, DE 60326Germany HOME PAGE: http://https://ducau.medium.com/ Dirk Stein FOM University of Applied Sciences for Economics and Management Toulouser Allee 53Dusseldorf, 40476Germany Download This Paper Open PDF in Browser Do you have a job opening that you would like to promote on SSRN? Place Job Opening Paper statistics Downloads 6 Abstract Views 15 PlumX Metrics Related eJournals European Economics: Macroeconomics & Monetary Economics eJournal Follow European Economics: Macroeconomics & Monetary Economics eJournal Subscribe to this fee journal for more curated articles on this topic FOLLOWERS 1,161 PAPERS 16,549 This Journal is curated by: Marco Da Rin at Tilburg University, Department of Finance, Francesco Giavazzi at University of Bocconi - Innocenzo Gasparini Institute for Economic Research (IGIER)National Bureau of Economic Research (NBER) Cryptocurrency Research eJournal Follow Cryptocurrency Research eJournal Subscribe to this free journal for more curated articles on this topic FOLLOWERS 1,071 PAPERS 1,156 International Finance eJournal Follow International Finance eJournal Subscribe to this fee journal for more curated articles on this topic FOLLOWERS 1,013 PAPERS 25,257 Monetary Economics: International Financial Flows, Financial Crises, Regulation & Supervision eJournal Follow Monetary Economics: International Financial Flows, Financial Crises, Regulation & Supervision eJournal Subscribe to this fee journal for more curated articles on this topic FOLLOWERS 496 PAPERS 6,302 Feedback Feedback to SSRN Feedback (required) Email (required) Submit If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday. Submit a Paper Section 508 Text Only Pages SSRN Quick Links SSRN Solutions Research Paper Series Conference Papers Partners in Publishing Jobs & Announcements Newsletter Sign Up SSRN Rankings Top Papers Top Authors Top Organizations About SSRN SSRN Objectives Network Directors Presidential Letter Announcements Contact us FAQs Copyright Terms and Conditions Privacy Policy We use cookies to help provide and enhance our service and tailor content. To learn more, visit Cookie Settings. This page was processed by aws-apollo5 in 0.218 seconds