Abstract

This chapter examines the regulation of cryptocurrencies, stablecoins and other crypto assets. We first offer an overview of these new assets. We then provide a definition. After this we discuss their legal and regulatory classification and the application of regulatory requirements for KYC (know your customer) and AML (anti money laundering). We then assess the appropriate regulatory regime, arguing that there is no need for bespoke regulation, over time most crypto assets and the exchanges on which they trade will move within existing regulatory frameworks. Those remaining crypto assets that fall outside the regulatory framework will be a small niche which can be left safely outside the regulatory perimeter.