Current Status and Outlook for Cryptocurrency Regulation by Hongcheng Chen, Creative Investment Research
On April 1, "The People’s Bank of China (PBOC)’s Institute of International Finance" identified "cryptocurrencies as a top priority for 2018,": citing the potential systemic risk that "widespread retail investment into cryptocurrencies" posed to the Yuan. The article below summarizes the Mandarin-language only report. Status and Outlook (1) Status Quo • Global cryptocurrency is growing explosively. As of March 10th, 2018, there were more than 1,500 types of cryptocurrency, totalling $389.1 billion in value. The market value for the top 10 cryptocurrencies stands at $321.1 billion and accounts for 80% of the total cryptocurrency market value. • A wide variety of institutions are involved in the issuance of cryptocurrency. Private sector players include financial institutions and large e-commerce platforms. On a national level, Tunisia, Senegal, Ecuador and Venezuela have issued legal cryptocurrency. • Existing problems: the issuance of crypto