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Reading: Bitcoin: The First Self-Regulating Currency?

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Bitcoin: The First Self-Regulating Currency?

Author:

Samuel Elliott

London School of Economics, UK; Dublin City University; Matheson, Dublin, IE
About Samuel

Graduate of the (LLM Eur, 2017). Graduate of (BCL Law and Society, 2015) Pre-Trainee (2017). My thanks to Professor Andrew Murray for his assistance in understanding the legal issues surrounding Bitcoin. Further thanks to Killian Mills and Sean Gibbons in helping to conceptualize the technical background to cryptocurrencies.

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Abstract

This article provides an examination of regulation theory as applied to Bitcoin. Through an examination of the parallels with Ogus’ model for self-regulation, it is demonstrated that several unique features inherent to cryptocurrencies offer the benefits of regulatory oversight without the drawbacks. The article also provides a broader socio-regulatory analysis of Bitcoin in an attempt to better understand the benefits of competitive self-regulation for platform users. Finally, this article examines whether cryptocurrencies should be regulated by way of traditional State-based models and, if so, which of these approaches (if any) ought to be used to regulate the platform.

How to Cite: Elliott, S., 2018. Bitcoin: The First Self-Regulating Currency?. LSE Law Review, 3, pp.57–84.
Published on 01 Jun 2018.
Peer Reviewed

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