Rethinking the Regulation of Cryptoassets: Cryptographic Consensus Technology and the New Prospect
Syren Johnstone, "Rethinking the Regulation of Cryptoassets: Cryptographic Consensus Technology and the New Prospect "
English | ISBN: 1800886780 | 2021 | 328 pages | PDF | 3 MB
English | ISBN: 1800886780 | 2021 | 328 pages | PDF | 3 MB
This thought-provoking book challenges the way we think about the regulation of cryptoassets based on cryptographic consensus technology. Bringing a timely new perspective, Syren Johnstone critiques the application of a financial regulation narrative to cryptoassets, questions the assumptions on which it is based, and considers its impact on industry development.
Providing new insights into the dynamics of oversight regulation, Johnstone argues that the financial narrative stifles the 'New Prospect' for the formation of novel commercial relationships and institutional arrangements. The book asks whether regulations developed in the 20th century remain appropriate to apply to a technology emerging in the 21st, suggesting it is time to think about how to regulate for ecosystem development. Johnstone concludes with proposals for reform, positing a new framework that facilitates industry aspirations while remaining sustainable and compatible with regulatory objectives.
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