Professor of International Finance and Commodities, Trinity College Dublin Assistant Professor (Finance), Dublin City University The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment. Trinity College Dublin provides funding as a member of The Conversation UK.
Republish our articles for free, online or in print, under Creative Commons license. Sceptics point to the multitude of regulatory issues and avenues for fraud and outright theft.
Advocates continue to insist that these are the “future of finance”. One of the reasons for the latest sell-off is that investors are selling their crypto to pay off the capital gains tax they are required to pay on their gains.
It has been estimated that US$25 billion is owed in the US alone. But there is a more fundamental issue at play of investors rushing to convert their profits from initial coin offerings (or ICOs) into fiat currency like dollars.
This is where a new crypto token is created in exchange for existing cryptocurrencies like bitcoin. The lack of regulation to protect the profits made from ICOs reflects the wider issue facing the future of crypto. Read more from theconversation.com…
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