Cryptocurrency and Blockchain: Background and Regulatory Approaches
Staci Duros, PhD
WISCONSIN POLICY PROJECT • September 2018, Volume 1, Number 2
Cryptocurrency, a subset of digital currency, is held up by some as the “currency of the future,” and the technology that allows its existence could revolutionize business and government. As cryptocurrency becomes more mainstream, governments around the world have taken the first steps toward regulation, however advances in technology frequently outpace legislation. This report is intended first to provide an overview on cryptocurrencies and blockchain technology for a non-specialist and therefore simplifies the issue’s fundamental concepts.
The purpose of the report is to describe the principal characteristics of cryptocurrencies and the underlying technology that enables its existence—decentralized, distributed ledgers based on blockchains; next, the report outlines recent developments in regulations in the United States by various federal regulatory and enforcement agencies and the most relevant case law. Then, the report explores developments at the state level. Finally, the report summarizes the global regulatory landscape of international responses to the regulation of cryptocurrency. This summary is not comprehensive, but highlights the esponses of major economic players as well as innovative practices. The report as a whole is intended to assist lawmakers in gaining abroad perspective of the current global regulatory market and the breadth of proposals for further policy and legislative guidance.
Click on the image to download the report:
© 2018 Wisconsin Legislative Reference Bureau
One East Main Street, Suite 200, Madison, Wisconsin 53703
http://legis.wisconsin.gov/lrb • 608-504-5801
This work is licensed under the Creative Commons Attribution 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/ or send a letter to Creative Commons, PO Box 1866, Mountain View, CA 94042, USA.