Understanding the risks associated with wallets, depository services, trading, lending, and borrowing in the crypto space
The crypto space offers numerous opportunities for users to grow their wealth through trading, lending, and borrowing activities. However, these opportunities come with inherent risks that need to be carefully managed to protect your assets and maximize returns. By understanding the risks associated...
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| Vydáno v: | Journal of Infrastructure, Policy and Development Ročník 7; číslo 3 |
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| Hlavní autor: | |
| Médium: | Journal Article |
| Jazyk: | angličtina |
| Vydáno: |
01.01.2023
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| ISSN: | 2572-7923, 2572-7931 |
| On-line přístup: | Získat plný text |
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| Shrnutí: | The crypto space offers numerous opportunities for users to grow their wealth through trading, lending, and borrowing activities. However, these opportunities come with inherent risks that need to be carefully managed to protect your assets and maximize returns. By understanding the risks associated with wallets and depository services, trading, lending, and borrowing, users can make informed decisions and enjoy the benefits of the rapidly evolving world of cryptocurrencies. This review paper analyses 43 papers for the period of 2019–2023 and proposes recommendations for policy makers. The results confirm that international regulators expect national authorities to implement a regulatory framework for digital assets comparable to those that already exist for traditional finance. For national authorities, this means having and using the powers, tools and resources to regulate and oversee a growing market. Authorities should cooperate and coordinate with each other, at the national and international levels, to encourage consistency and knowledge sharing. Market operators (exchanges), service providers, exchanges and wallets, create effective risk management structures, as well as reliable mechanisms for collecting, storing, protecting and reporting data. |
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| ISSN: | 2572-7923 2572-7931 |
| DOI: | 10.24294/jipd.v7i3.2223 |