Making it through the (crypto) winter: facts, figures and policy issues

Guerino Ardizzi (), Marco Bevilacqua (), Emanuela Cerrato () and Alberto Di Iorio ()
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Guerino Ardizzi: Bank of Italy
Marco Bevilacqua: Bank of Italy
Emanuela Cerrato: Bank of Italy
Alberto Di Iorio: Bank of Italy

No 38, Mercati, infrastrutture, sistemi di pagamento (Markets, Infrastructures, Payment Systems) from Bank of Italy, Directorate General for Markets and Payment System

Abstract: The prices of crypto-assets have risen very steeply in recent years, attracting the interest of retail and institutional investors. More recently, the market has experienced a sharp decline in prices, also influenced by idiosyncratic events and tighter global fi nancial conditions. Starting from the main events that unfolded in the crypto-asset market in 2022, this paper examines the challenges regulation faces, as well as the drivers of the most recent regulatory developments, and then highlights the remaining open issues.

Keywords: crypto-asset; Bitcoin; blockchain; regulation; decentralization (search for similar items in EconPapers)
JEL-codes: G23 K29 O33 (search for similar items in EconPapers)
Date: 2023-06
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:wpmisp:mip_038_23

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