Crypto-Assets and Disintermediation in Finance: A View from Asia

Syren Johnstone ()
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Syren Johnstone: The University of Hong Kong

Chapter Chapter 10 in Disintermediation Economics, 2021, pp 215-245 from Springer

Abstract: Abstract The response in Asia to the emergence of crypto-assets has varied enormously intra-regionally. Developments in the larger capital markets have ranged from actively permissive industry-regulator partnering that has led to more granular regulation (Japan), to cautious approaches openly permitting industry development while applying existing laws where possible (Hong Kong), to banning specific activities while also promoting blockchain technology (Mainland China). After a review of the Asian narrative in section 1 , the current status of regulation in Asia is summarized in section 2 . Sections 3 and 4 address the hurdles to ecosystem development and question whether regulatory incrementalism is sustainable. The final section 5 reviews suggestions for policy development.

Date: 2021
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DOI: 10.1007/978-3-030-65781-9_10

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