Goodell, G;
Aste, T;
(2019)
Can Cryptocurrencies Preserve Privacy and Comply with Regulations?
Frontiers in Blockchain
, 2
, Article 4. 10.3389/fbloc.2019.00004.
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Abstract
Cryptocurrencies offer an alternative to traditional methods of electronic value exchange, promising anonymous, cash-like electronic transfers, but in practice they fall short for several key reasons. We consider the false choice between total surveillance, as represented by banking as currently implemented by institutions, and impenetrable lawlessness, as represented by privacy-enhancing cryptocurrencies as currently deployed. We identify a range of alternatives between those two extremes, and we consider two potential compromise approaches that offer both the auditability required for regulators and the anonymity required for users.
| Type: | Article |
|---|---|
| Title: | Can Cryptocurrencies Preserve Privacy and Comply with Regulations? |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.3389/fbloc.2019.00004 |
| Publisher version: | https://doi.org/10.3389/fbloc.2019.00004 |
| Language: | English |
| Additional information: | Copyright © 2019 Goodell and Aste. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (https://creativecommons.org/licenses/by/4.0/). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms. |
| Keywords: | cryptoassets, regulation, compliance, auditing, tax, money laundering, privacy, anonymity |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Computer Science |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10074538 |
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