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Financial governance of cryptocurrencies in Africa

Author

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  • Emmanuel BANKOLE

Abstract

Purpose : Show to what extent the tax can constitute an instrument of control of cryptocurrencies available to monetary and financial authorities. \n Methodology : Based on a theoretical model that takes up the functioning of an implicit contract (Milgrom, 1997), the methodology of this article consisted in resolving a governance game between financial authorities and cryptocurrency platforms. \n Results : A monetary levy at the time of the conversion of cryptocurrencies into legal currencies constitutes a means for central banks to effectively control cryptocurrencies, in particular due to the refusal of cryptocurrency platforms to share information relating to transactions carried out. In addition, coordination of public, financial and banking authorities is essential to reduce illicit transactions and secure exchanges. \n Originality : Its lies in the methodological approach adopted. Indeed, the use of theoretical modeling of the governance game is a new approach that has so far been little adopted in work relating to the analysis of the financial governance of cryptocurrencies.

Suggested Citation

  • Emmanuel BANKOLE, 2023. "Financial governance of cryptocurrencies in Africa," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 14(1), pages 83-98, June.
    • Handle: RePEc:jaf:journl:v:14:y:2023:i:1:n:596
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    References listed on IDEAS

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    1. Bruno Biais & Christophe Bisière & Matthieu Bouvard & Catherine Casamatta, 2019. "The Blockchain Folk Theorem," The Review of Financial Studies, Society for Financial Studies, vol. 32(5), pages 1662-1715.
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    3. Robleh Ali & John Barrdear & Roger Clews & James Southgate, 2014. "Innovations in payment technologies and the emergence of digital currencies," Bank of England Quarterly Bulletin, Bank of England, vol. 54(3), pages 262-275.
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    More about this item

    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • N8 - Economic History - - Micro-Business History
    • G3 - Financial Economics - - Corporate Finance and Governance

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