Initial Coin Offerings (ICOs): Economics and Regulation

Klöhn, Lars; Parhofer, Nicolas; Resas, Daniel

doi:10.2139/ssrn.3290882

Cited by 7 publications

(2 citation statements)

References 7 publications

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“…On the other hand, legal classification needs to be allocated mindful of the corresponding legal application area (Haffke et al, 2020). The categories of tokens are Virtual currencies and money laundering distinguished mainly into three types by their function: currency, utility tokens and investment (Rivero, 2018: Klöhn et al, 2018: Rohr and Wright, 2018.…”

Section: Literature Reviewmentioning

confidence: 99%

Virtual currencies and money laundering: existing and prospects for jurisdictions that comprehensively prohibited virtual currencies like Pakistan

Sultan

Mohamed

Martin

et al. 2023

JMLC

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Purpose This study aims to examine the Financial Action Task Force’s recommendations on virtual currencies (VCs) and how Pakistan has responded to them. Design/methodology/approach Qualitative document and jurisprudence analysis techniques were used to achieve the study’s goal. Findings According to this study, VCs are modern FinTech that no jurisdiction can ignore. However, Pakistan has not adopted regulations to govern VCs but comprehensively prohibits their use. It is primarily due to the apathy of various regimes and regulators. Furthermore, the geographical location, undocumented economy and rampant corruption could facilitate the abuse of VCs for money laundering. Originality/value This study has provided a significant overview for developing regulations for VCs in Pakistan and other developing jurisdictions with the same characteristics.

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Section: Literature Reviewmentioning

confidence: 99%

Virtual currencies and money laundering: existing and prospects for jurisdictions that comprehensively prohibited virtual currencies like Pakistan

Sultan

Mohamed

Martin

et al. 2023

JMLC

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“…Emitenci zwykle muszą sprzedać dużą część tokenów, gdy wycena projektu jest jeszcze niska (Chen, 2018). Występowanie tylko jednej rundy finansowania jest spowodowane tym, że podaż tokenów jest zwykle z góry ustalona (Klöhn i in., 2018). Oznacza to, że projekty nie mają szansy na kolejne rundy finansowania, w odróżnieniu od innych metod pozyskiwania środków, jak na przykład dzięki inwestycjom aniołów biznesu czy funduszy venture capital.…”

Section: Słabe Strony I Zagrożeniaunclassified

Initial coin offering jako nowa forma finansowania i inwestycji

Włosik¹

2021

Innowacje Finansowe W Gospodarce 4.0

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This part of the monograph is related to initial coin offering – a mechanism that allows blockchain-based companies or projects to obtain financing. In return for financial support, ICO participants are offered different types of digital tokens – payment, utility or investment tokens. The chapter contains the systematization of issues related to ICO and tokens as well as a description of stages of initial coin offering. The SWOT analysis of ICO highlights the strengths and opportunities related to ICO – inter alia the possibility of portfolio diversification and the limited access for individual investors to early-stage investments (apart from ICO). Also the weaknesses of initial coin offering (e.g. the need to prepare a due diligence by an investor) and associated risks (e.g. regulatory uncertainty) are considered. Moreover, the author identifies research areas related to ICO. They include, among others, the identification of ICO success factors and the identification of factors affecting the rates of return on tokens.

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Crypto Tokens and Token Offerings: An Introduction

Liu

Wang²

2019

Contributions to Management Science

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Initial Coin Offerings (ICOs): Economics and Regulation

Cited by 7 publications

References 7 publications

Virtual currencies and money laundering: existing and prospects for jurisdictions that comprehensively prohibited virtual currencies like Pakistan

Virtual currencies and money laundering: existing and prospects for jurisdictions that comprehensively prohibited virtual currencies like Pakistan

Initial coin offering jako nowa forma finansowania i inwestycji

Crypto Tokens and Token Offerings: An Introduction

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