Into the ether or the state? Legibility theory and the cryptocurrency markets
Miles Kellerman,
Jack Seddon
Abstract:There is substantial cross-national variation in the level of regulatory clarity surrounding cryptocurrencies. What explains these differences? And, more broadly, what drives the divergent historical development of market regulation in different jurisdictions? To answer these questions, we present a new conceptual framework centered on the concept of market legibility. This term, inspired by the sociological literature, refers to the extent to which markets are made legible to the state through standardization… Show more
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