Virtual currencies have undoubtably been a topic of conversation and uncertainty for some time. Many countries have jumped ahead of the industry and regulated cryptocurrencies, while others have taken a back seat to see exactly how the market responds. This Note explores the history behind cryptocurrency and Blockchain and how governments worldwide have dealt with the growing concern regarding regulation of the often volatile and decentralized industry. By way of comparative analysis, this Note examines how China, Switzerland, and the United States have taken measures to either embrace or repudiate the industry, as well as how they have succeeded and failed at a regulatory scheme. This Note ends with a recommendation that the industry be regulated by its own constituents through a self-regulatory organization, similar to that of FINRA, and discusses whether this form of regulation can coexist with a centralized governmental authority.
Are Centralized Cryptocurrency Regulations the Answer? Three Countries; Three Different Directions,
45 Brook. J. Int'l L.
Available at: https://brooklynworks.brooklaw.edu/bjil/vol45/iss2/7