ABSTRACT
Chapter 7 covers cryptoasset regulatory policies in selected advanced western economies. It includes and analysis of modern historical financial issues. The United States is examined in the context of the positions taken by the Federal Reserve, the SEC which regulates securities, the Commodity Futures Trading Commission (CFTC) which regulates derivative contracts based on commodities, the IRS dealing with tax issues and federal issues arising. There is also consideration of the approaches adopted in Arizona, Vermont and Delaware and the proposed model law on the issue. The EU’s approach and in particular that of the European Central Bank’s cryptoassets task force are set out. In addition, the position taken by the European Banking Authority and the European Securities and Markets Association and relevant anti-laundering steps. The chapter moves on to the position taken by Germany, the UK, Australia, Canada, Switzerland, the Cayman Islands and Malta.
