Motsi, Immaculate Dadiso (2020) Regulation of cryptocurrencies : a reflexive law approach. PhD thesis, University of Warwick.

Preview

PDF WRAP_Theses_Motsi_2020.pdf - Submitted Version - Requires a PDF viewer. Download (2200Kb) | Preview

Request Changes to record.

Abstract

This thesis presents a reflexive law approach to the regulation of cryptocurrencies. Cryptocurrencies are a form of digital or virtual currency generated, exchanged and distributed exclusively online. Whilst there are legitimate uses for cryptocurrencies, and there is considerable interest in their innovative potential in the financial sector and beyond, their use in facilitating illegal activities combined with the risks they pose to consumers and investors warrants their regulation. Current cryptocurrency regulation consists of recommendations, warnings, opinions, and statements of international organisations, whose mandates and purview include and intersect with the issues of regulatory concern raised by cryptocurrencies. It also consists of disparate national approaches, which this thesis has classified into jurisdictions with (a) no regulation, (b) restrictive regulations, (c) neutral regulation, and (d) promotive regulations. However, the inherent technical features of cryptocurrencies present specific challenges to this current regulatory framework, in the areas of enforcement and compliance. This thesis argues that a reflexive regulation approach—in which the law acts at a subsystem-specific level to install, correct, and redefine democratic self-regulatory mechanisms—is best suited to contending with the issues of regulatory concern presented by cryptocurrencies, whilst addressing the shortcomings and limitations of current cryptocurrency regulation. This thesis provides strategies for a reflexive regulation approach to cryptocurrencies, developed through the identification of the internal self-regulatory mechanisms of the cryptocurrency system. Identifying these as computer code and consensus-based distributive governance mechanisms respectively, this thesis concludes by providing recommendations aimed at redirecting these internal self-regulatory mechanisms towards achieving regulatory goals. In this way, this thesis draws from the theory of reflexive regulation as presented by Gunther Teubner, in order to provide both a substantive and jurisprudential perspective on the regulation of cryptocurrencies.

Item Type:	Thesis (PhD)
Subjects:	K Law [Moys] > KB General and Comparative Law
Library of Congress Subject Headings (LCSH):	Cryptocurrencies -- Law and legislation
Official Date:	March 2020
Dates:	Date Event March 2020 UNSPECIFIED
Institution:	University of Warwick
Theses Department:	School of Law
Thesis Type:	PhD
Publication Status:	Unpublished
Supervisor(s)/Advisor:	Singh, Dalvinder, 1970- ; Rogowski, Ralf
Format of File:	pdf
Extent:	227 leaves : illustrations (some colour), colour map
Language:	eng

Request changes or add full text files to a record

Repository staff actions (login required)

View Item

Downloads