Cryptocurrencies: A ‘Sandbox for Regulators’?

By thinking loudly about putting the regulation of cryptocurrencies on the agenda of the G20, governments seem to have managed to keep the Bitcoin bubble from inflating into a systemic risk, so far. In a tongue-in-cheek sense, this behavior of supervisory and regulatory authorities can be described as the distributed ledger technology of financial supervision. It is distributed because it does not have a clear center. The G20 seems to be the common reference point for many actors, but it does not speak itself. It is like a shared code.

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On the new Legal Settlement of the UK with the EU

In this brief comment I discuss some of the legal questions that arise out of the proposals for a new settlement between the UK and the EU.[1] As I will show, the precise nature of the draft agreement is unclear. This legal instrument raises difficult issues of both EU and public international law and could potentially cause serious uncertainty or even a constitutional crisis. Press reports have missed this legal complexity. Ministerial statements have been silent about it.

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