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Full-Text Articles in Social and Behavioral Sciences
Why China Had To “Ban” Cryptocurrency But The U.S. Did Not: A Comparative Analysis Of Regulations On Crypto-Markets Between The U.S. And China, Rain Xie
Washington University Global Studies Law Review
The cryptocurrency market grew from a $1.5 billion market capitalization in early 2013 to over $795 billion in January 2018. Bitcoin, an exemplar cryptocurrency, gained value from $0.08 before 2010 to over $17,000 per bitcoin in December 2017. While cryptocurrencies have campaigned for revolutionizing financial transactions, the crypto-market is plagued by nefarious minds, fleecing investors in frauds and Ponzi schemes. This crypto-mania therefore presents numerous legal and regulatory challenges that demand prompt and efficient responses. Nevertheless, the decentralized, anonymous nature of cryptocurrencies magnifies these challenges and has constantly outpaced the law’s ability to respond. To understand ...