Leading role of state as a regulator of crypto currency

DOI

10.2991/icseal-18.2018.47How to use a DOI?

Keywords

State regulation, crypto currency, financial leaders, bitcoin, financial regulation, political risks

Abstract

This paper tackles the novel issues of possibility and feasibility of financial regulation of the crypto currency. At the same time, this research is also aimed at justifying the possibility and necessity of introducing state regulation over the crypto currency circulation. The state should act the leader who foresees the new trends and act accordingly to minimize the threats and risk stemming from them. The paper uses a toolkit of state financial regulation with features of using electronic currencies. An approach is proposed for creating a crypto-currency security based on the main fraudulent schemes used in the practice of circulation of electronic currencies. Our own presented approach can be claimed by state regulation bodies in the sphere of financial circulation and also by banks in case of detection of suspicious transactions. The approach and the methodology developed in this paper make it possible to estimate the volume of movements of electronic currencies in any given country as well as to identify the spheres of their investment. Our results will also enable the policy-makers and relevant stakeholders to effectively protect owners of crypto currency from fraudulent transactions which increase the security of their crypto-currency wallets.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Andrej Semenihin
AU  - Aleksandr Kondrashin
PY  - 2018/10
DA  - 2018/10
TI  - Leading role of state as a regulator of crypto currency
BT  - Proceedings of the 2nd International Conference on Social, Economic and Academic Leadership (ICSEAL 2018)
PB  - Atlantis Press
SP  - 329
EP  - 334
SN  - 2352-5398
UR  - https://doi.org/10.2991/icseal-18.2018.47
DO  - 10.2991/icseal-18.2018.47
ID  - Semenihin2018/10
ER  -