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Occasional paper on crypto-assets

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  • Banco de Portugal working group on crypto-assets

Abstract

Crypto-assets are digital assets that may depend on cryptography and exist on a distributed ledger or similar technology. In the absence of a common and widely accepted taxonomy, we first try to characterise crypto-assets and differentiate them from goods fulfilling the three essential functions of money: medium of exchange, unit of account and store of value. We then analyse the (lack of) legislation applied to crypto-assets, before concluding with the identification of the associated main risks.

Suggested Citation

  • Banco de Portugal working group on crypto-assets, 2020. "Occasional paper on crypto-assets," Working Papers o202004, Banco de Portugal, Economics and Research Department.
    • Handle: RePEc:ptu:wpaper:o202004
    as

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    File URL: https://www.bportugal.pt/sites/default/files/anexos/papers/op202004.pdf
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    References listed on IDEAS

    as
    1. Maria Demertzis & Guntram B. Wolff, 2018. "The economic potential and risks of crypto assets- is a regulatory framework needed?," Policy Contributions 27194, Bruegel.
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    Cited by:

    1. Banco de Portugal working group on crypto-assets, 2023. "Occasional paper on Stablecoins," Working Papers o202301, Banco de Portugal, Economics and Research Department.

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