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Regulating Global Stablecoins: A Model-Law Strategy, Steven L. Schwarcz
Regulating Global Stablecoins: A Model-Law Strategy, Steven L. Schwarcz
Vanderbilt Law Review
Digital currencies have the potential to improve the speed and efficiency of the payment system. The principal challenge is retail: to facilitate day-to-day payments among consumers as an alternative to cash, both domestically and across national borders. Two models of digital currencies are becoming viable: central bank digital currencies and nongovernment-issued currencies that are backed by assets having intrinsic value (stablecoins or, when widely used internationally, global stablecoins). Because they are not government issued, global stablecoins present complex and novel cross-border regulatory challenges, including managing the costs of complying with a multitude of national laws and ensuring international legal enforceability. …
Incomplete International Investment Law -- Applying The Incomplete Contract Theory, Tae Jung Park
Incomplete International Investment Law -- Applying The Incomplete Contract Theory, Tae Jung Park
University of Cincinnati Law Review
There is a puzzle in the field of international investment law: many negotiating countries fail to complete their International Investment Agreements (“IIA”) and postpone the renegotiations for completion as well. The literature on IIAs has neglected to consider the existence, causes, and solutions of this phenomenon. This study employs the incomplete contract theory to explain the causes and solutions surrounding this phenomenon.