Regulating crypto assets
United Nations Conference on Trade and Development · United Nations eBooks · 2023
Regulation is one way of influencing the evolution and use of crypto assets. However, many crypto-asset activities and markets are not compliant with applicable regulations or have remained unregulated (FSB, 2022). One reason may be the technological novelties of crypto assets. Many activities escape existing regulation because decentralization and the limited transparency of the crypto universe creates significant data gaps. Definitional issues, such as difficulties in establishing whether a stablecoin issuer is a narrow bank or a money market mutual fund, or whether Ether is a commodity or a security, also hamper effective regulation.