IDEAS home Printed from https://ideas.repec.org/a/aza/jfc000/y2019v2i4p318-329.html
   My bibliography  Save this article

A new regulatory evolution: Cryptocurrency and the securities industry at the crossroads

Author

Listed:
  • Angotti, Alma
  • Klauder, Adam
  • Bjelland, Karina

Abstract

With the global proliferation of virtual currency, regulators continue to analyse the market to determine the optimal framework for regulation. A key issue in this evolving regulatory environment is the outstanding question of how virtual currencies should be classified: as securities, commodities, assets or currency, and which government agency should regulate these products. This paper provides an overview of the current regulatory landscape and provide steps that firms and compliance professionals can take to minimise the potential anti-money laundering (AML) and sanctions risks of participating in the cryptocurrency market. Faced with an uncertain and rapidly changing regulatory landscape, this paper encourages cryptocurrency companies that engage in trading and exchange activity to consider implementing a risk-based compliance programme for addressing financial crime risk that is comparable to what a securities broker-dealer would have, considering the similarities they share with the securities industry.

Suggested Citation

  • Angotti, Alma & Klauder, Adam & Bjelland, Karina, 2019. "A new regulatory evolution: Cryptocurrency and the securities industry at the crossroads," Journal of Financial Compliance, Henry Stewart Publications, vol. 2(4), pages 318-329, June.
    • Handle: RePEc:aza:jfc000:y:2019:v:2:i:4:p:318-329
    as

    Download full text from publisher

    File URL: https://hstalks.com/article/3614/download/
    Download Restriction: Requires a paid subscription for full access.
    File URL: https://hstalks.com/article/3614/
    Download Restriction: Requires a paid subscription for full access.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    digital assets; virtual currency; cryptocurrency; compliance; securities; regulation;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • K2 - Law and Economics - - Regulation and Business Law

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aza:jfc000:y:2019:v:2:i:4:p:318-329. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Henry Stewart Talks (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.