Regulatory issues in blockchain technology

Peter Yeoh

Journal of Financial Regulation and Compliance, 2017, vol. 25, issue 2, 196-208

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: Bitcoin; Virtual currencies; Blockchain; Disruptors; Distributed ledger technology (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (36)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:jfrcpp:jfrc-08-2016-0068

DOI: 10.1108/JFRC-08-2016-0068

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