This study analyzes the characteristics, economic nature, and regulatory challenges of cryptoassets. While crypto-assets present numerous opportunities, they also carry significant risks, including price volatility, financial and systemic risks, legal uncertainty, money laundering, and terrorist financing. Divergent regulatory approaches among countries have resulted in legal arbitrage, complicating global supervision. The study emphasizes the need for common regulatory principles focused on issuers, exchanges, and custodial wallet providers to ensure transparency and financial safety. Finally, it proposes key regulatory principles to balance technological innovation with financial stability and offers future research directions on the impact of policies on the crypto-asset market.
Nguyen et al. (Fri,) studied this question.
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