Virtual currencies under EU anti-money laundering law

Vandezande, Niels

doi:10.1016/j.clsr.2017.03.011

Cited by 61 publications

(36 citation statements)

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“…Their results indicate that both the honest and dishonest miners were worse off than they would have been if no dishonest mining was present. Glaser et al [2014] found strong evidence supporting the view that uninformed users approaching digital currencies were not primarily interested in an alternative transaction system, but instead, it's inherent secondary uses and role as an alternative investment vehicle, while Vandezande [2017] attempted to investigate the effects of anti-money laundering legislation on cryptocurrencies in the European Union. Pieters and Vivanco [2017] found evidence 14 ACCEPTED MANUSCRIPT…”

Section: Accepted Manuscriptmentioning

confidence: 99%

Cryptocurrencies as a financial asset: A systematic analysis

Corbet

Lucey

Urquhart

et al. 2019

International Review of Financial Analysis

776

228

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This paper provides a systematic review of the empirical literature based on the major topics that have been associated with the market for cryptocurrencies since their development as a financial asset in 2009. Despite astonishing price appreciation in recent years, cryptocurrencies have been subjected to accusations of pricing bubbles central to the trilemma that exists between regulatory oversight, the potential for illicit use through its anonymity within a young underdeveloped exchange system, and infrastructural breaches influenced by the growth of cybercriminality. Each influence the perception of the role of cryptocurrencies as a credible investment asset class and legitimate of value.

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Section: Accepted Manuscriptmentioning

confidence: 99%

Cryptocurrencies as a financial asset: A systematic analysis

Corbet

Lucey

Urquhart

et al. 2019

International Review of Financial Analysis

776

228

View full text Add to dashboard Cite

show abstract

“…Our study adds to the growing literature that studies the cruptocurrency market. In addition to papers that analyze the opportunities and regulations of virtual currencies (e.g., Stokes, 2012;Böhme et al, 2015;Raymaekers, 2015;Vandezande, 2017;Pieters and Vivanco, 2017), there is a stream in the literature that investigates cryptocurrencies as investment vehicles from various perspectives. Significant effort is gathered on answering whether Bitcoin acts entirely as an alternative currency or it maintains similar properties to commodities or speculative assets (e.g., Yermack, 2013;Glaser et al, 2014;Dyhrberg, 2016;Bouri et al, 2017;Blau, 2017;Baur et al, 2018).…”

Section: Introductionmentioning

confidence: 99%

The economic value of Bitcoin: A portfolio analysis of currencies, gold, oil and stocks

Symitsi

Chalvatzis

2019

Research in International Business and Finance

166

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We assess the out-of-sample performance of Bitcoin within portfolios of various asset classes and a well-diversified portfolio under four strategies and estimate the economic gains net of transaction costs. We find statistically significant diversification benefits from the inclusion of Bitcoin which are more pronounced for commodities. Most importantly, the decrease in the overall portfolio risk due to the low correlation of Bitcoin with other assets is not offset by its high volatility. However, the inclusion of Bitcoin pays off little if investors accommodate a battery of economic instruments. Considering non-bubble conditions that are not marked by explosive prices in cryptocurrencies, we document substantially diminished benefits.

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“…However, it is not the only or main function. A cryptocurrency is сlose in nature to money but is not always regarded as money (Vandezande, 2017).…”

Section: Types Of Bonded Tokensmentioning

confidence: 99%

The legal status of tokens and their inheritance

et al. 2020

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This article considers the legal status of tokens, their specifics and distinctive features, as well as the possibility of inheriting this digital asset. The study aims at analyzing the legal nature and classification of tokens, as well as the specifics of their inheritance. While conducting this research, it has been used the methods of collecting and studying singularities, generalization, scientific abstraction, cognition of objective laws, objectivity, specificity and pluralism. It has been concluded that a token is an entry in the transaction block registry (blockchain) or other distributed information systems, which certifies that the token owner is entitled to civil law protections and/or is a cryptocurrency. It has been proved that tokens by their legal nature are digital units of accounting in the participating interest shares of entrepreneurial projects and authorized capitals of any company, digital price analogues of uncertificated securities and other objects of civil law. It has been developed a classification of tokens and emphasized the need to create an electronic data warehouse that contains access codes for these digital assets. After the testator’s death, these codes can be given to the heir by testament or by law in case the testator did not draw up the corresponding testament during their life. These conclusions and suggestions will allow to legally qualify tokens and resolve inheritance issues in this area.

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Virtual currencies under EU anti-money laundering law

Cited by 61 publications

References 0 publications

Cryptocurrencies as a financial asset: A systematic analysis

Cryptocurrencies as a financial asset: A systematic analysis

The economic value of Bitcoin: A portfolio analysis of currencies, gold, oil and stocks

The legal status of tokens and their inheritance

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