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Financial regulations and price inconsistencies across bitcoin markets

Gina Pieters () and Sofia Vivanco
Additional contact information
Sofia Vivanco: Trinity University

No 293, Globalization and Monetary Policy Institute Working Paper from Federal Reserve Bank of Dallas

Abstract: We document systematic differences in bitcoin prices across 11 different markets representing 26% of global bitcoin trade volume. These differences must — due to the identical nature of all bitcoin — result from characteristics of markets themselves. We examine differences across the markets and find that those which do not require customer identification for establishing an account are more likely to deviate from representative market prices than those which do. This implies that standard financial regulations, specifically know-your-customer regulations, can have a non-negligible impact on the bitcoin market.

JEL-codes: G12 G14 K42 L86 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-mkt and nep-pay
Date: 2016-12-01
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