Regulating the Unregulatable: The Digital Commodity Exchange Act’s Use- Based Approach to Cryptocurrency Regulation
Becky Powell Since the creation of Bitcoin in 2008, the cryptocurrency market has grown exponentially and remained relatively free from government oversight. Only within the last five years have federal agencies begun to regulate the risks the industry poses. Their response to date, though, has been piecemeal because they lack explicit, statutory jurisdiction over the industry. As a result, the cryptocurrency market faces several risks that threaten to derail its future growth. For one, the industry is a playground for criminal activity, including everything from money laundering to fraud to cyberattacks. The market is also extremely volatile, and consumers have...
The Reimagined Schoolyard: Cryptocurrency’s Adoption in Tomorrow’s International Monetary Order
Stephen Wilks This Article looks to specific periods in the socio-legal history of money to make a series of predictive statements about cryptocurrency’s contemporary impact. New forms of currency have been more consequential than simply solving narrowly defined problems. They have shaped relationships between technology and government’s expansionary aims to produce important structural arrangements – sometimes at the cost of disrupting incumbent ones. In the prehistoric era, commodity based forms of money gave way to metal coins and systems of exchange that facilitated trade expansion and would eventually express political power in their physical design. The large-scale circulation of paper...