Autore
Tagliamonte, Irene

Titolo
L'integrità dei mercati delle cripto-attività, tra vecchie e nuove tutele
Periodico
Osservatorio del diritto civile e commerciale
Anno: 2022 - Fascicolo: Speciale - Pagina iniziale: 381 - Pagina finale: 412

The so-called «tokenomics» is the beating heart of permissionless blockchain. Crypto prices incentivize good behaviors and consensus generation in the network. Crypto-market integrity affects both allocation efficiency and the good functioning of the ecosystem in a self reinforcing process. Flaws in crypto-market price formation may threaten confidence in blockchain technology and the long-term survival of decentralized finance. This paper reviews the main factors hindering crypto-market integrity and how they are addressed in the recently approved EU Regulation on the Markets in Crypto-assets (MiCAR). The new framework introduces a toolbox for public/private market surveillance that could give momentum to the EU crypto markets. Forthcoming developments and challenges for regulators and participants in decentralized finance are also highlighted



SICI: 2281-2628(2022)SPECIALE<381:LDMDCT>2.0.ZU;2-A
Testo completo: https://www.rivisteweb.it/download/article/10.4478/106717
Testo completo alternativo: https://www.rivisteweb.it/doi/10.4478/106717

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