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A Whole New World: Income Tax Considerations Of The Bitcoin Economy, Benjamin W. Akins JD, LLM, Jennifer L. Chapman JD, CPA, Jason M. Gordon JD, MBA 2015 SelectedWorks

A Whole New World: Income Tax Considerations Of The Bitcoin Economy, Benjamin W. Akins Jd, Llm, Jennifer L. Chapman Jd, Cpa, Jason M. Gordon Jd, Mba

Benjamin W. Akins

Bitcoin is a virtual, cryptocurrency growing rapidly in influence throughout the world. Numerous characteristics associated with the bitcoin system, including low transaction costs and greater user privacy, make it appealing as a medium of electronic payment. The number of users of bitcoin, including merchants accepting the currency as a form of payment, has grown considerably in recent years. Estimates indicate that there are more than 60,000 active bitcoin users as of September 2012, with nearly 11 million bitcoins in existence. According to the latest estimates, bitcoin market capitalization is roughly $9 billion. The growth of bitcoin as an accepted ...


Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. McCall 2015 University of Oklahoma College of Law

Gambling On Our Financial Future: How The Federal Government Fiddles While State Common Law Is A Safer Bet To Prevent Another Financial Collapse, Brian M. Mccall

Brian M McCall

Many politicians and commentators agree that credit default swaps (CDS) played a significant role in the financial crisis of 2008. Yet, few who observe this role are aware that CDS were set loose on the economy by the federal pre-emption of thousands of years of public policy. Since the time of Aristotle law, philosophy and public policy have been hostile to gambling. Viewed as a socially unproductive zero sum wealth transfer, the law has generally refused to permit parties to use the courts to enforce wagers. Courts and legislatures worked in harmony to control and in some cases punish financial ...


Banking And Financial Regulation, Steven L. Schwarcz 2015 Duke Law

Banking And Financial Regulation, Steven L. Schwarcz

Faculty Scholarship

This chapter provides a basic overview of banking and financial regulation for the forthcoming Oxford Handbook of Law and Economics (Francesco Paris, ed.). Among other things, the chapter compares traditional and shadow banking and their regulation, differentiating “micro prudential” regulation (which focuses on protecting individual components of the financial system, such as banks) and “macro prudential” regulation (which focuses on protecting against systemic risk). The chapter also examines how regulation can help to correct market failures that undermine financial efficiency. In that context, it discusses, among other things, capital requirements, ring-fencing, and stress testing. Finally, the chapter examines how regulation ...


Al Bai Bithaman Ajil- The Grant Of Ibra In Customer Default Situations, Jonathan Chen Yeen Muk 2014 SelectedWorks

Al Bai Bithaman Ajil- The Grant Of Ibra In Customer Default Situations, Jonathan Chen Yeen Muk

Jonathan Muk

The Al Bai Bithaman Ajil (“BBA”) facility is an Islamic financing facility based on underlying purchase and sales agreements. When bank customers default on their instalment obligations under the facility, the grant of ibra (rebate) in Al Bai Bithaman Ajil (“BBA”) facilities is a contentious issue. This article provides an analysis of the Malaysian judgments with respect to ibra and BBA facilities. It seeks to identify the best way for courts to approach ibra in the absence of legislation or executive direction. It is suggested that while implied terms, unconscionability and even recharacterisation of the BBA facilities have been used ...


The Growth Triangle Of Singapore, Malaysia And Indonesia, Terence P. Stewart, Margaret L.H. Png 2014 University of Georgia School of Law

The Growth Triangle Of Singapore, Malaysia And Indonesia, Terence P. Stewart, Margaret L.H. Png

Georgia Journal of International & Comparative Law

No abstract provided.


Comment On Home Mortgage Disclosure Act Proposed Rulemaking, David J. Reiss 2014 SelectedWorks

Comment On Home Mortgage Disclosure Act Proposed Rulemaking, David J. Reiss

David J Reiss

The Consumer Financial Protection Bureau's Home Mortgage Disclosure Act proposed rulemaking (proposed Aug. 29, 2014) is a reasonable one. It increases the amount of information that is to be collected about important consumer products, such as reverse mortgages. It also increases the amount of important information it collects about all mortgages. At the same time, it releases lenders from having to determine borrowers’ intentions about how they will use their loan proceeds, something that can be hard to do and to document well. Finally, while the proposed rule raises some privacy concerns, the CFPB can address them.


Comment On The Fhfa's Small Multifamily Subgoal, David J. Reiss, Jeffrey Lederman 2014 SelectedWorks

Comment On The Fhfa's Small Multifamily Subgoal, David J. Reiss, Jeffrey Lederman

David J Reiss

As the FHFA sets the housing goals for 2015-2017, it should focus on maximizing the creation and preservation of affordable housing. Less efficient proposed subgoals should be rejected unless the FHFA has explicitly identified a compelling rationale to adopt them. The FHFA has not identified one in the case of the proposed small multifamily subgoal. Thus, it should be withdrawn.


Uniform Application And Interest Rates Under The 1980 Vienna Sales Convention, Franco Ferrari 2014 University of Georgia School of Law

Uniform Application And Interest Rates Under The 1980 Vienna Sales Convention, Franco Ferrari

Georgia Journal of International & Comparative Law

No abstract provided.


Understanding The Islamic Prohibition Of Interest: A Guide To Aid Economic Cooperation Between The Islamic And Western Worlds, Hesham M. Sharawy 2014 University of Georgia School of Law

Understanding The Islamic Prohibition Of Interest: A Guide To Aid Economic Cooperation Between The Islamic And Western Worlds, Hesham M. Sharawy

Georgia Journal of International & Comparative Law

No abstract provided.


The Daiwa Wake-Up Call: The Need For International Standards For Banking Supervision, Kristin L. Case 2014 University of Georgia School of Law

The Daiwa Wake-Up Call: The Need For International Standards For Banking Supervision, Kristin L. Case

Georgia Journal of International & Comparative Law

No abstract provided.


China - A National Regulatory Framework For The Prc's Stock Markets Begins To Emerge, Benjamin R. Tarbutton 2014 University of Georgia School of Law

China - A National Regulatory Framework For The Prc's Stock Markets Begins To Emerge, Benjamin R. Tarbutton

Georgia Journal of International & Comparative Law

No abstract provided.


Transforming China's Traditional Banking Systems Under The New National Banking Laws, Andrew X. Qian 2014 University of Georgia School of Law

Transforming China's Traditional Banking Systems Under The New National Banking Laws, Andrew X. Qian

Georgia Journal of International & Comparative Law

No abstract provided.


The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann 2014 University of Georgia School of Law

The Value Of Public-Notice Filing Under Uniform Commercial Code Article 9: A Comparison With The German Legal System Of Securities In Personal Property, Jens Hausmann

Georgia Journal of International & Comparative Law

No abstract provided.


Foreign Direct Investment In Brazil From 2006 To 2008: Economic And Juridical Analysis Of American Depositary Receipts In The Brazilian Market, Claudia Ribeiro Pereira Nunes 2014 SelectedWorks

Foreign Direct Investment In Brazil From 2006 To 2008: Economic And Juridical Analysis Of American Depositary Receipts In The Brazilian Market, Claudia Ribeiro Pereira Nunes

Claudia Ribeiro Pereira Nunes

This paper studies the impact of American Depositary Receipts on the growth aspect of the Brazilian market and attempts to measure the market’s ability to foster the formation of new enterprises and encourage Brazil economic expansion. The hypothesis of this paper examines whether investment allocation decisions of mutual fund managers have helped or hindered the development of the local stock market in Brazil. For this study, it is necessary to investigate two research subjects: (i) the set of Brazilian macroeconomic policies performance, (ii) and exploration of the juridical structure of American Depositary Receipts. Research methodologies are theoretical literature review ...


The Fhfa's Proposed Single Security Structure, David J. Reiss 2014 SelectedWorks

The Fhfa's Proposed Single Security Structure, David J. Reiss

David J Reiss

The Federal Housing Finance Agency (FHFA) has posted a Request for Input on “the proposed structure for a Single Security that would be issued and guaranteed by Fannie Mae or Freddie Mac.” The FHFA states it is most concerned with achieving “maximum secondary market liquidity” (Request for Input, at 8)

I am skeptical about the reasons for this move to a Single Security and whether it will achieve maximum liquidity. Moreover, it is unclear to me that this move reflects an urgent need for the FHFA, the two companies, originating lenders or borrowers. While I have no doubt that it ...


Survey 2014: Bankruptcy + Student Loan Debt Crisis, Brenda Beauchamp, Jason R. Cooper 2014 Touro College Jacob D. Fuchsberg Law Center

Survey 2014: Bankruptcy + Student Loan Debt Crisis, Brenda Beauchamp, Jason R. Cooper

Touro Law Review

No abstract provided.


Secured Credit And Insolvency Law In Argentina And The U.S.: Gaining Insight From A Comparative Perspective, Guillermo A. Moglia Claps, Julian B. McDonnell 2014 University of Georgia School of Law

Secured Credit And Insolvency Law In Argentina And The U.S.: Gaining Insight From A Comparative Perspective, Guillermo A. Moglia Claps, Julian B. Mcdonnell

Georgia Journal of International & Comparative Law

No abstract provided.


The New Wild West: Preventing Money Laundering In The Bitcoin Network, Kavid Singh 2014 SelectedWorks

The New Wild West: Preventing Money Laundering In The Bitcoin Network, Kavid Singh

Kavid Singh

Bitcoin is the most popular online decentralized currency in the world. Created by an enigmatic figure, Satoshi Nakamoto, in 2009, its propagation and use has caused heated controversy. On the legal side of its use, businesses both large and small have started to accept bitcoins as a form of payment. On the illegal side of its use, large quantities of bitcoins worth hundreds of millions of dollars have been stolen from businesses and large Bitcoin currency exchanges. The aim of this article is to introduce workable federal regulation that will help deter money laundering, a pervasive problem in the world ...


Business Law Bulletin, Fall 2014, 2014 University of Maryland Francis King Carey School of Law

Business Law Bulletin, Fall 2014

Business Law Bulletin

No abstract provided.


Prudential Regulation And The Knowledge Problem: Towards A New Paradigm Of Systemic Risk Regulation, Michael T. Cappucci 2014 SelectedWorks

Prudential Regulation And The Knowledge Problem: Towards A New Paradigm Of Systemic Risk Regulation, Michael T. Cappucci

Michael T Cappucci

In this article I examine the regulatory structure created by Title I of the Dodd-Frank Act and ask whether the prudential regulatory authority given to the Financial Stability Oversight Council is an effective tool for accomplishing the mission of identifying and containing risk in the financial system. Prudential regulation, the principal tool at the disposal of the FSOC, was developed in the 19th century to counteract moral hazard in the banking system. Over time, prudential supervision has become policymakers’ regulation of choice, to the point where it is now employed in the oversight and regulation of non-bank financial firms. However ...


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