The Crypto-Assets Experience: Give Technology a Chance Without Milking Users nor Investors (and Keep Close International Oversight on Potential Collateral Damage)

13 Pages Posted: 17 Apr 2019

See all articles by Claude Lopez

Claude Lopez

Reserve Bank of Australia

Susana Nudelsman

affiliation not provided to SSRN

Matias Alfredo Gutierrez Girault

affiliation not provided to SSRN

Jose Siaba Serrate

Consejo Argentino para las Relaciones Internacionales (CARI)

Date Written: September 20, 2008

Abstract

Crypto-Assets (CA) are digital instruments aimed to serve as mediums of exchange that rely on decentralized control and boast the (yet to prove) promise of a revolution in Finance. Their meteoric rise entails both opportunities and perils. Rewards are uncertain; risks, much more tractable. We propose the design of a cross border framework to put CA on a level regulatory playing field with other competing financial instruments and activities. That involves keeping close scrutiny of CA linkages with the real economy and the existing conventional financial infrastructure, and bringing CA under the normal anti-money laundering (AML) and counter-terrorist financing (CFT) standards. Risks borne by users and investors --- and possible systemic risk --- deserve thorough examination while giving technology space to develop its genuine potential.

Keywords: crypto-assets, regulation, financial stability

Suggested Citation

Lopez, Claude and Nudelsman, Susana and Gutierrez Girault, Matias Alfredo and Siaba Serrate, Jose, The Crypto-Assets Experience: Give Technology a Chance Without Milking Users nor Investors (and Keep Close International Oversight on Potential Collateral Damage) (September 20, 2008). Available at SSRN: https://ssrn.com/abstract=3356883 or http://dx.doi.org/10.2139/ssrn.3356883

Claude Lopez (Contact Author)

Reserve Bank of Australia

65, Martin Place
Sydney, NSW 2000
Australia

Susana Nudelsman

affiliation not provided to SSRN

Matias Alfredo Gutierrez Girault

affiliation not provided to SSRN

Jose Siaba Serrate

Consejo Argentino para las Relaciones Internacionales (CARI) ( email )

Uruguay 1037
Buenos Aires, C1016
Argentina

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
70
Abstract Views
479
Rank
594,111
PlumX Metrics