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Full-Text Articles in Business
The Economics Of Financial Scams: Evidence From Initial Coin Offerings, Kenny Phua, Bo Sang, Chi Shen Wei, Yang Yu
The Economics Of Financial Scams: Evidence From Initial Coin Offerings, Kenny Phua, Bo Sang, Chi Shen Wei, Yang Yu
Research Collection Lee Kong Chian School Of Business
We examine the economics of financial scams by analyzing the market for initial coin offerings (ICOs). Using data snapshots of 5,873 ICOs, we find that irregularities in ICO characteristics across listing websites predict higher scam risk and are likely intentional. These patterns are consistent with a model where malicious issuers maximize profits by using irregularities to screen for naïve investors. Almost half of the ICOs in our sample may be scams, amounting to more than U.S. $6 billion in losses. Our results draw attention to the frequent use of screening mechanisms in financial scams.
Regulatory Sandboxes Enable Pragmatic Blockchain Regulation, Joshua Durham
Regulatory Sandboxes Enable Pragmatic Blockchain Regulation, Joshua Durham
Washington Journal of Law, Technology & Arts
Since blockchain technology supports digitally-native money, the centralized chokepoints that governments have traditionally targeted to regulate commerce no longer apply to our (digital) property. However, competent regulation furthers basic public policy goals and should enable responsible innovation of this promising technology. This Article discusses pragmatic policies that enable responsible innovation by cultivating regulatory expertise required to write enforceable rules. Responsible innovation is necessary because unlike the early internet, where programmers could manipulate simple colors and text on webpages, these same individuals can now create financial services applications that manipulate actual money—we are faced with an inescapable reality that more is …
From Tether To Terra: The Current Stablecoin Ecosystem And The Failure Of Regulators, Mary E. Burke
From Tether To Terra: The Current Stablecoin Ecosystem And The Failure Of Regulators, Mary E. Burke
Fordham Journal of Corporate & Financial Law
The Tether controversy and Terra crash have placed stablecoins in the regulatory spotlight. Stablecoins are often portrayed as posing systemic risks to financial markets, with some pundits labelling them “the villain of the finance world.” Global regulatory bodies, namely the International Monetary Fund (IMF) and the Bank of International Settlement (BIS), and political leaders, including the Biden Administration, have all called for stablecoin regulation. These officials allege that stablecoins’ structure, combined with their exponential growth, pose a unique risk to global markets. Before the May 2022 Terra crash, government reports superficially treated stablecoins by exclusively focusing on asset-backed coins. Post …
Electronic Banking And Fintech: Changes Over The Years, Disruptions And Where It Will Head In The Future, Patricia C. Laws
Electronic Banking And Fintech: Changes Over The Years, Disruptions And Where It Will Head In The Future, Patricia C. Laws
Honors Theses and Capstones
This paper investigates the changes to banking over the years, and the ways in which it has transformed. It investigates the advantages and disadvantages of online banking and looks forward into the future of banking. The research discusses where banking will head and how far it may advance. I use a survey to reveal customers’ perceptions regarding the preferences they have pertaining to electronic banking, and how participative they are in the system. It looks to gain valuable knowledge about electronic banking uses and advantages, so that we can predict how it may change the future, and how it is …