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Regulatory issues in blockchain technology

Peter Yeoh (School of Law, Social Sciences and Communications, University of Wolverhampton, Wolverhampton, UK)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Article publication date: 8 May 2017

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Abstract

Purpose

This paper aims to examine the key regulatory challenges impacting blockchains, innovative distributed technologies, in the European Union (EU) and the USA.

Design/methodology/approach

A qualitative perspective underpins the study. This paper relies on primary data from applicable statutes and secondary data from the public domain including relevant case study insights.

Findings

The smart regulatory hands-off approach adopted in the EU and the USA to a large extent bodes well for future innovative contributions of blockchains in the financial services and related sectors and toward enhanced financial inclusiveness.

Practical implications

The paper’s findings provide support for blockchain technology to advance with minimum regulatory brakes for greater value-adding and efficiency advancement, especially for financial services, thereby expanding accessibility and therefore financial inclusiveness.

Originality/value

This paper helps to draw greater attention to the technology underpinning virtual currencies. It also highlights other economic potentials flowing from blockchain advancement.

Keywords

Citation

Yeoh, P. (2017), "Regulatory issues in blockchain technology", Journal of Financial Regulation and Compliance, Vol. 25 No. 2, pp. 196-208. https://doi.org/10.1108/JFRC-08-2016-0068

Publisher

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Emerald Publishing Limited

Copyright © 2017, Emerald Publishing Limited