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Full-Text Articles in Law
The Privacy Cost Of Currency, Karin Thrasher
The Privacy Cost Of Currency, Karin Thrasher
Michigan Journal of International Law
Banknotes, or cash, can be used continuously by any person for nearly every transaction and provide anonymity for the parties. However, as digitization increases, the role and form of money is changing. In response to pressure produced by the increase in new forms of money and the potential for a cashless society, states are exploring potential substitutes to cash. Governments have begun to investigate the intersection of digitization and fiat currency: Central Bank Digital Currencies (“CBDC”).
States have begun researching and developing CBDCs to serve in lieu of cash. Central banks are analyzing the potential for a CBDC that could …
Strengthening Sanctions: Solutions To Curtail The Evasion Of International Economic Sanctions Through The Use Of Cryptocurrency, Emma K. Macfarlane
Strengthening Sanctions: Solutions To Curtail The Evasion Of International Economic Sanctions Through The Use Of Cryptocurrency, Emma K. Macfarlane
Michigan Journal of International Law
Despite the ubiquity of cryptocurrency, no international uniform regulatory system exists. State-by-state regulation of cryptocurrencies has problematic implications for cross-border investigations and predictability in application. Moreover, this regulatory framework leaves open opportunities for actors worldwide to violate international sanctions with impunity.
This Note posits that an international regulatory framework is necessary to combat the evasion of financial sanctions on practical and theoretical grounds. It further argues that the best way to structure this new framework is through the enactment of a new multilateral treaty. A formal international regulatory mechanism for cryptocurrencies would have numerous benefits, foremost among them limiting the …