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Article
Publication date: 21 August 2019

Bradley Rice and Bisola Williams

To review the findings of the Financial Conduct Authority's consumer research on cryptoassets.

Abstract

Purpose

To review the findings of the Financial Conduct Authority's consumer research on cryptoassets.

Design/methodology/approach

Summarises the FCA's research and draws on other recent cryptoasset papers/announcements.

Findings

The research finds consumers do not understand crytpoassets well, and not many of them buy them; those that do see them as a fast track to wealth.

Practical implications

This research will further inform the approach the FCA eventually takes in clarifying the regulatory perimeter for cryptoassets.

Originality/value

Summary by experts in the field.

Details

Journal of Investment Compliance, vol. 20 no. 3
Type: Research Article
ISSN: 1528-5812

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Article
Publication date: 9 May 2019

Sam Maxson, Stuart Davis and Rob Moulton

To analyse the final report of the UK Cryptoassets Taskforce published in October 2018 and discuss the UK’s policy and regulatory approach to crypto-assets and distributed…

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Abstract

Purpose

To analyse the final report of the UK Cryptoassets Taskforce published in October 2018 and discuss the UK’s policy and regulatory approach to crypto-assets and distributed ledger technology in financial services.

Design/methodology/approach

This article considers some of the key aspects of the final report of the UK Cryptoassets Taskforce and provides a summary of the next steps the UK authorities have committed to taking in relation to regulation of crypto-assets in the UK.

Findings

The approach to regulation of crypto-assets in the UK is evolving and the relevant UK authorities are continuing to improve their understanding of crypto-assets in order to assess the appropriate type and level of regulation that should apply to them. Whilst risks relating to consumer detriment and anti-money laundering have been identified as needing to be addressed as a matter of priority, the UK authorities appear to be taking a measured approach to regulation of crypto-assets. They also remain supportive of the adoption of distributed ledger technology in financial services, whilst noting some potential challenges to scalability.

Originality/value

This article contains valuable information about current policy direction and regulatory thinking in the UK in relation to crypto-assets, and analysis from leading FinTech lawyers.

Details

Journal of Investment Compliance, vol. 20 no. 2
Type: Research Article
ISSN: 1528-5812

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Book part
Publication date: 30 September 2020

Saurav Dutta

Abstract

Details

The Definitive Guide to Blockchain for Accounting and Business: Understanding the Revolutionary Technology
Type: Book
ISBN: 978-1-78973-865-0

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Article
Publication date: 8 May 2018

Daniel Nathan and Betsy Popken

To explain FINRA’s priorities for 2018, as reflected in its Annual Regulatory and Examination Priorities Letter.

Abstract

Purpose

To explain FINRA’s priorities for 2018, as reflected in its Annual Regulatory and Examination Priorities Letter.

Design/methodology/approach

Evaluates the overall tone of FINRA’s letter as self-reflective, describes most of FINRA’s priorities for 2018 as unchanged from previous years, and highlights new areas of focus for FINRA.

Findings

FINRA plans a number of organizational improvements over the next year which could facilitate positive dialogue between firms and FINRA examiners, helping to reduce the burden on broker-dealers and possibly avoid low-level enforcement action. FINRA expressed a desire to better leverage its model as a self-regulatory organization to achieve its mission. Most of FINRA’s priorities for 2018 are old standbys, including fraud, high-risk firms and brokers, cybersecurity and AML programs, product suitability vetting, and best execution surveillance. FINRA’s new areas of focus for 2018 include business continuity plans, technology governance, cryptoassets, options violations, new report cards, and new rules.

Practical implications

Despite FINRA leadership’s commitment to self-analysis and enhanced communication, FINRA continues to be highly committed to examining and addressing through enforcement action potential failures to comply with its rules. Firms facing FINRA or SEC examinations should brush up on FINRA’s old standby priorities and fine-tune their practices to ensure compliance with industry trends.

Originality/value

Practical guidance from experienced securities and financial services lawyers that summarizes FINRA’s stated approach for 2018.

Details

Journal of Investment Compliance, vol. 19 no. 1
Type: Research Article
ISSN: 1528-5812

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Executive summary
Publication date: 15 April 2021

INTERNATIONAL: Coinbase paves way for other exchanges

Details

DOI: 10.1108/OXAN-ES260864

ISSN: 2633-304X

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Geographic
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Expert briefing
Publication date: 17 January 2019

Gold outperformed other asset classes, including US equities, last year for the first time since 2011. However, this was due more to gold's relatively low volatility than…

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Book part
Publication date: 21 October 2019

Joey Biasi and Sujit Chakravorti

In this chapter, the authors study how cryptotoken issuance, also referred to as initial coin offerings and security token offerings, may disrupt funding markets such as…

Abstract

In this chapter, the authors study how cryptotoken issuance, also referred to as initial coin offerings and security token offerings, may disrupt funding markets such as venture capital, crowdfunding, and private equity. The authors discuss the necessary infrastructure to support this new asset class. The authors analyze the market evolution in terms of volatility, global reach, news events, and types of industries that are issuing or considering to issue tokens. The authors discuss some specific token offerings to highlight lessons learned. the authors summarize the regulatory landscape and challenges going forward. This market crashed in terms of market capitalization at the end of 2018. However, this new asset class along with the underlying technology holds great promise to disrupt various types of intermediaries if adequate financial and regulatory infrastructures are developed.

Details

Disruptive Innovation in Business and Finance in the Digital World
Type: Book
ISBN: 978-1-78973-381-5

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Book part
Publication date: 9 March 2021

Alim Khamisa

Abstract

Details

The Emerald Handbook of Blockchain for Business
Type: Book
ISBN: 978-1-83982-198-1

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Article
Publication date: 27 September 2021

Katherine Kirkptrick, Aaron Stevens, Jacob Gerber, Margaret Nettesheim and Sebastian Bellm

To evaluate the global anti-money laundering regulation of digital assets and cryptocurrencies.

Abstract

Purpose

To evaluate the global anti-money laundering regulation of digital assets and cryptocurrencies.

Design/methodology/approach

This article provides an analysis of macro trends in digital asset money laundering regulation and explores the regulatory frameworks in some of the leading international crypto markets.

Findings

As the popularity and public adoption of digital assets have grown, global regulators have turned their attention to the risks of anti-money laundering. Monitoring the evolving international regulatory landscape is essential for organizations looking to successfully take advantage of digital asset-related investment opportunities.

Practical implications

Market participants should understand all applicable laws and procedures before they decide to enter the digital asset market. These considerations can become even more complex as businesses interact with multiple international regulators.

Originality/value

This article is designed to help investors understand the global anti-money laundering regulatory landscape regarding digital assets, particularly for those institutions interested in diversifying with crypto-related investment opportunities.

Details

Journal of Investment Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1528-5812

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Book part
Publication date: 9 March 2021

Amanda Wilkie and Sean Stein Smith

This chapter explores blockchain's five key elements ‒ distribution, encryption, immutability, tokenization, and decentralization. It also examines blockchain's potential…

Abstract

This chapter explores blockchain's five key elements ‒ distribution, encryption, immutability, tokenization, and decentralization. It also examines blockchain's potential to revolutionize today's businesses by looking at the efficiency and transparency blockchain brings to business processes. In addition, the chapter discusses the added benefits of traceability and potentially decreasing long-term costs before reviewing some of the known technical challenges blockchain faces today especially pertaining to commercial and enterprise adoption. Limited block size and low-transaction rates potentially inhibit blockchain's ability to scale to meet the needs of current and future enterprises. The lack of blockchain standards, along with creating multiple blockchains, complicates interoperability between the various blockchain platforms. The chapter concludes by offering potential solutions to blockchain's current technical challenges and how enterprises might adapt blockchain in the future.

Details

The Emerald Handbook of Blockchain for Business
Type: Book
ISBN: 978-1-83982-198-1

Keywords

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