Wednesday, January 23, 2019

Syren Johnstone on Taxonomies of Digital Assets: Recursive or Progressive? (Stanford J of Blockchain L & Policy)

"Taxonomies of Digital Assets: Recursive or Progressive?"
published online on 5 January 2019
Abstract: This Essay discusses the development of taxonomies that seek to map digital assets onto existing financial markets laws as a means of assisting regulatory clarity. The publication of such taxonomies has become something of a mini-industry, yet there has been little consideration given to the construction of taxonomies and their potential to develop—or constrain—thinking about how best to develop regulatory responses to the industry. This Essay suggests that taxonomies are often little more than descriptive, appearing to “solve” taxonomic problems while at the same time embedding restrictive assumptions, and accordingly can obstruct policy development.

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