Loading...
|
Please use this identifier to cite or link to this item:
https://nccur.lib.nccu.edu.tw/handle/140.119/125678
|
| Title: | 我國密碼資產交易平台之監理研究
A Study on the Supervision of Crypto-assets Trading Platforms in Taiwan |
| Authors: | 楊承璇
Yang, Chen-Hsuan |
| Contributors: | 王文杰
臧正運
Wang, Wen-Chieh
Tsang, Cheng-Yun
楊承璇
Yang, Chen-Hsuan |
| Keywords: | 虛擬通貨
加密資產
數位資產
證券型代幣
虛擬貨幣
交易所
STO
IEO
ICO |
| Date: | 2019 |
| Issue Date: | 2019-09-05 16:23:57 (UTC+8) |
| Abstract: | 在比特幣推波助瀾下，全球掀起一波密碼資產(Crypto Asset)投 資熱潮，而本文研究之「密碼資產交易平台(Crypto-asset Trading Platform)」身為密碼資產市場中重要的流通市場，除卻扮演交易撮 合角色外，亦兼具清算結算、資產託管、自營商等等複合型角色，其 利益衝突的風險不言而喻，故近年亦頻傳「交易量造假」、「挪用或侵 吞用戶資產」、「平台被駭客入侵」等問題，因此喚起國際各金融主管 機關對交易平台的監理意識，故本文希望藉由分析密碼資產及交易平 台的本質與市場發展，並進一步分析交易平台之金融市場的潛在風險, 並參考國際準則制訂組織（SSBs）與美國、加拿大、香港、新加坡之 監理方針，並以此反思我國針對交易平台之法制健全性是否已足,並 評析金管會近期推出的「證券型代幣發行(Security Token Offering, STO) 相關規範」法案，最後本文將綜合風險評估與現況監管不足之 處提出總體性的立法建議 |
| Reference: | 參考文獻
一、 中文書籍
1. 王志誠，(2017)。現代金融法(三版)，台北：新學林。
2. 李榮謙，(2012)。貨幣銀行學(十版)，台北：智勝文化。
3. 楊東，(2017)。鍊金有法-區塊鏈商業實踐與法律指南，北京：北京航空航天大學出版社。
4. 邱聰智，(2002)。新訂債法各論（中），台北：元照。
5. 張冠群，(2015)，危機後系統性重要銀行及金融機構監理法規之變革兼評我國現行銀行監理制度-財經法新課題與新趨勢（二），台北：元照。
6. 劉連煜，(2016)。證券交易法實例研習(十四版)，台北：元照。
二、 中文期刊論文
1. 王儷玲，(2019)。從ICO衍生問題談區塊鏈創新之挑戰，遠見雜誌，第393期。
2. 王志誠，(2016)。股權群眾募資之新里程-兼論證券商經營股權性質群眾募資平臺業務之法制發展及課題， 華岡法粹，第 61 期，頁1-58。
3. 王詠心，(2014)。後金融海嘯時代-證券期貨市場監理之國際趨勢，財團法人孫運璿學術基金會，頁56-58。
4. 李姿瑩，(2018)。美國ULC公布統一虛擬貨幣事業監管規範建議，科技法律透析，30:5期，頁15-21。
5. 李英正，(2007)。網路交易適用消保法郵購買賣規範之探討，消費者保護研究，第 10 輯，137 頁。
6. 陳恭，(2018)。運用區塊鏈打造公共治理新局面，國土與公共治理季刊，第6卷第4期，頁50-61。
7. 羅鈺珊，（2017），分散式帳本與區塊鏈的應用現況與挑戰，經濟前瞻，169期，頁79 - 84。
8. 唐長兵，(2017)，PoW共識演算法中的博弈困境分析與優化，自動化學報，第 43 卷第 9 期，頁1521-1531。
9. 徐肇鴻，(2013)，由經濟論點論銀行體系中系統風險之成因及事後處理機制之規範原則 ，東吳法律學報，第24卷第3期，頁87 - 124。
10. 陳美菊，(2009)，全球金融危機之成因、影響及因應，經濟研究第九期，頁261-296。
11. 楊偉文，(2009)，金融監理機關功能性組織調整之研究， 臺北大學法學論叢第 70 期，頁157-255 頁。
12. 鄭秀霙，(2010)，美國金融改革法店頭衍生性商品集中結算之研究，期貨與選擇權學刊 ，5卷2期， 頁29 – 84。
13. 郭土木，(2000)，期貨交易詐欺及內線交易行為之探討，證券暨期貨管理，18卷第3期， 頁 1-12。
14. 楊岳平，(2018)，首次代幣發行與證券監理法制─以臺灣證券交易法下「證券」的定義為中心，月旦財經法雜誌，第43期， 頁135-164。
三、 中文網站
1. 蔡曜如，金融危機對金融體系與總體經濟之影響，瀏覽日期2019年7月10日，檢自：https：//www.cbc.gov.tw/public/Attachment/02616193371.pdf
2. 王可言，經濟日報-區塊鏈、代幣經濟和產業創新，瀏覽日期2019年7月10日，檢自： https：//money.udn.com/money/story/5629/3682103
3. 以太坊（Ethereum）是什麼？首次代幣眾籌（ICO）如何讓以太幣超越比特幣？，瀏覽日期2019年7月10日，檢自：https：//www.bnext.com.tw/article/44959/what-is-ethereum-and-how-ico-become-the-reason-that-ether-exceeds-bitcoin
4. 區塊鏈運作原理大剖析，瀏覽日期2019年7月10日，檢自：
https：//www.ithome.com.tw/news/105374
5. 為你解說區塊鏈應用：以太坊、以太幣、智能合約，瀏覽日期2019年7月10日，檢自：https：//medium.com/@astromnhsu/%E7%82%BA%E4%BD%A0%E8%A7%A3%E8%AA%AA%E5%8D%80%E5%A1%8A%E9%8F%88%E6%87%89%E7%94%A8-%E4%BB%A5%E5%A4%AA%E5%9D%8A-%E4%BB%A5%E5%A4%AA%E5%B9%A3-%E6%99%BA%E6%85%A7%E5%90%88%E7%B4%84-a134c118b8dd
6. 陳恭，智能合約的發展與應用， 瀏覽日期2019年7月10日，檢自：
https：//www.fisc.com.tw/Upload/b0499306-1905-4531-888a.../TC/9005.pdf
8. 報告：ICO專案平均有5項漏洞，約7成智能合約有安全風險，瀏覽日期2019年7月10日，檢自：https：//www.ithome.com.tw/news/124138
9. 運行在區塊鏈上的交易所 ，瀏覽日期2019年7月10日，檢自：
https：//medium.com/taipei-ethereum-meetup/%E9%81%8B%E8%A1%8C%E5%9C%A8%E5%8D%80%E5%A1%8A%E9%8F%88%E4%B8%8A%E7%9A%84%E4%BA%A4%E6%98%93%E6%89%80-%E4%B8%8B-a5d8fe139616
10. 如何用比特幣私鑰創建以太坊地，瀏覽日期2019年7月10日，檢自：https//medium.com/cryptocow/%E5%A6%82%E4%BD%95%E7%94%A8%E6%AF%94%E7%89%B9%E5%B9%A3%E7%A7%81%E9%91%B0%E5%89%B5%E5%BB%BA%E4%BB%A5%E5%A4%AA%E5%9D%8A%E5%9C%B0%E5%9D%80-f500d7429b75
11. 工商時報，證券型虛擬通貨 金管會納管，瀏覽日期2019年7月10日，檢自：https：//ctee.com.tw/news/finance/114521.html
12. 臺灣首例公開ICO，募資平臺自行開發!沃田咖啡用以太坊推出2100萬個咖啡幣，瀏覽日期2019年7月10日，檢自：https：//www.ithome.com.tw/news/119629
13. 月旦會計網，證券型代幣公開發行（Security Token Offering， STO）於我國與國外之發展，瀏覽日期2019年7月10日，檢自：
http：//www.angle.com.tw/accounting/current/post.aspx？ipost=3718
14. ICO 已死：九成新幣瀕臨倒閉，散戶、發行公司都死無全屍 ，瀏覽日期2019年7月10日，檢自：https：//buzzorange.com/techorange/2018/03/13/ico-already-dead/
15. 應用場景的ICO顯得愈發彌足珍貴，瀏覽日期2019年7月10日，檢自：
https：//www.wanlianzhijia.com/News/show/id/3205.html
16. 工商時報，投資人被騙怕了 全球ICO急凍，瀏覽日期2019年7月10日，檢自：https：//www.chinatimes.com/newspapers/20180730000214-260205？chdtv
17. 數位時代，解密ICO：華麗的詐術還是區塊鏈落地的破壞式創新， 瀏覽日期2019年7月10日，檢自：https：//www.bnext.com.tw/article/50798/ico-top-8
18. 許崇恩，經濟日報-區塊鏈趨勢/IEO 風潮席捲而來 什麼魔力讓萬人響應， 瀏覽日期2019年7月10日，檢自：https//money.udn.com/money/story/5597/3814358
19. 交易所拿自己的信譽背書IEO 能重建市場信心，瀏覽日期2019年7月10日，檢自：https：//www.blocktempo.com/can-ieo-help-market-regain-confidence/
23. 託管及非託管交易所資訊需知，瀏覽日期2019年7月10日，檢自：https//medium.com/%E5%AF%B6%E5%B3%B6%E9%87%91%E8%9E%8Dformosafinancial/%E8%A8%97%E7%AE%A1%E5%8F%8A%E9%9D%9E%E8%A8%97%E7%AE%A1%E4%BA%A4%E6%98%93%E6%89%80%E8%B3%87%E8%A8%8A%E9%9C%80%E7%9F%A5-b63637ffd39c
24. TokenInsight ，2019年5月之去中心化交易所研究报告， 瀏覽日期2019年7月10日，檢自：https：//www.jinse.com/blockchain/381887.html
26. 2019區塊鏈產業地圖 ， 瀏覽日期2019年7月10日，檢自：https：//tw-blockchain-industry.blocktempo.com/？utm_source=Facebook_PicSee&fbclid=IwAR2x7m2uCbbC4DH7D3o4ZJr9T0UKdvp4m9OsW3QgT9GSWHLRmEuY583PjlI
27. coingecko，2019/6/20之交易平台排名為準，瀏覽日期2019年7月10日，檢自：https：//www.coingecko.com/en/exchanges/max_maicoin
28. COBINHOOD 現在只剩陳泰元一人，用戶資金提領問題依舊，瀏覽日期2019年7月10日，檢自：
https：//www.blocktempo.com/popo-cobinhood-withdrawal-issue-need-ex-cto-to-fix/
32. 臺灣證券交易所，美國證券市場相關制度，瀏覽日期2019年7月10日，檢自： https//www.twse.com.tw/ch/products/publication/download/0003000161.pdf
33. 陳德霖 ，金管局總裁2018年9月21日於財資市場高峰會的發言，瀏覽日期2019年7月10日，檢自：https：//www.hkma.gov.hk/chi/key-information/insight/20180921.shtml
34. 香港金管局，有關首次代幣發行的聲明，瀏覽日期2019年7月10日，檢自：https：//www.sfc.hk/web/TC/news-and-announcements/policy-statements-and-announcements/statement-on-initial-coin-offerings.html
35. 何謂集合投資計劃 ，瀏覽日期2019年7月10日，檢自：
https：//www.consumer.org.hk/ws_chi/choice/445_06
36. 證監會訂立守則或指引，瀏覽日期2019年7月10日，檢自：
https：//www.elegislation.gov.hk/hk/cap571!zh-Hant-HK
37. 香港金管局，網上分銷及投資諮詢平台指引，瀏覽日期2019年7月10日，檢自： https：//www.sfc.hk/web/TC/assets/components/codes/files-current/zh-hant/guidelines/guidelines-on-online-distribution-and-advisory-platforms/guidelines-on-online-distribution-and-advisory-platforms.pdf
38. 香港金管局，非複雜及複雜產品 ，瀏覽日期2019年7月10日，檢自：
https：//www.sfc.hk/web/TC/rules-and-standards/suitability-requirement/non-complex-and-complex-products/
39. 香港證監會， 持牌人或註冊人操守準則， 瀏覽日期2019年7月10日，檢自： https：//www.sfc.hk/web/TC/assets/components/codes/files-current/zh-hant/codes/%E8%AD%89%E5%88%B8%E5%8F%8A%E6%9C%9F%E8%B2%A8%E4%BA%8B%E5%8B%99%E7%9B%A3%E5%AF%9F%E5%A7%94%E5%93%A1%E6%9C%83%E6%8C%81%E7%89%8C%E4%BA%BA%E6%88%96%E8%A8%BB%E5%86%8A%E4%BA%BA%E6%93%8D%E5%AE%88%E6%BA%96%E5%89%87/%E8%AD%89%E5%88%B8%E5%8F%8A%E6%9C%9F%E8%B2%A8%E4%BA%8B%E5%8B%99%E7%9B%A3%E5%AF%9F%E5%A7%94%E5%93%A1%E6%9C%83%E6%8C%81%E7%89%8C%E4%BA%BA%E6%88%96%E8%A8%BB%E5%86%8A%E4%BA%BA%E6%93%8D%E5%AE%88%E6%BA%96%E5%89%87.pdf
40. 香港立法會，對虛擬資產投資活動的監管（ 在立法會會議上胡志偉議員的提問和財經事務及庫務局局長劉怡翔的書面答覆），瀏覽日期2019年7月10日，檢自：https：//www.info.gov.hk/gia/general/201904/03/P2019040300268.htm
42. 香港證監會，可能規管虛擬資產交易平台營運者的概念性框架，瀏覽日期2019年7月10日，檢自： https//www.sfc.hk/web/TC/files/ER/PDF/App%202%20%20Conceptual%20framework%20for%20VA%20trading%20platform%20（final）_chi.pdf
43. Bitcoin監管真空恐成洗黑錢工具，瀏覽日期2019年7月10日，檢自：https：//hk.on.cc/hk/bkn/cnt/news/20140821/bkn-20140821202231084-0821_00822_001.html
44. 香港證監會，推出監管沙盒，瀏覽日期2019年7月10日，檢自：
https：//www.sfc.hk/edistributionWeb/gateway/TC/news-and-announcements/news/doc？refNo=17PR126
46. 虛擬貨幣ICO 顧立雄： 依應用、證券、支付3大類採個案管理，瀏覽日期2019年7月10日，檢自：https：//ec.ltn.com.tw/article/breakingnews/2442076
47. 金管會公開示警 銀行不得買賣比特幣，瀏覽日期2019年7月10日，檢自：https：//ec.ltn.com.tw/article/paper/1161740
48. 簡維克、施宇軒 ， 證券型代幣募資（STO）規範的簡評與反思，瀏覽日期2019年7月10日，檢自：
https//tw.news.yahoo.com/%E8%AD%89%E5%88%B8%E5%9E%8B%E4%BB%A3%E5%B9%A3%E5%8B%9F%E8%B3%87-sto-%E8%A6%8F%E7%AF%84%E7%9A%84%E7%B0%A1%E8%A9%95%E8%88%87%E5%8F%8D%E6%80%9D-174800254.html
49. 彭惠筠、許苑，淺談虛擬貨幣之法律地位 ，瀏覽日期2019年7月10日，檢自：http：//www.liang-law.com.tw/tc/research_detail.php？cid2=2&nid=113&Page=0
50. 「功能型代幣（Utility Token）的權益在哪裡？」——COBINHOOD 事件的三個啟示，瀏覽日期2019年7月10日，檢自：https：//www.blocktempo.com/utility-token-holder-vs-cobinhood-what-we-learn/
51. 金融支付多元 經部新增禮券履約保證方式，瀏覽日期2019年7月10日，檢自：https：//www.cna.com.tw/news/afe/201712280356.aspx
52. 發布核定具證券性質之虛擬通貨為證券交易法所稱之有價證券之令，瀏覽日期2019年7月10日，檢自：https：//www.sfb.gov.tw/ch/home.jsp？id=88&parentpath=0，3&mcustomize=lawnews_view.jsp&dataserno=201907030002
53. 金管會對「證券型代幣發行（Security Token Offering， STO） 相關規範」之新聞稿說明，瀏覽日期2019年7月10日，檢自：
https：//www.fsc.gov.tw/ch/home.jsp？id=96&parentpath=0，2&mcustomize=news_view.jsp&dataserno=201906270004&aplistdn=ou=news，ou=multisite，ou=chinese，ou=ap_root，o=fsc，c=tw&dtable=News
54. 金管會 STO 初步規範出爐-證券型代幣（Security Token）分為「分潤型」與「債務型」，瀏覽日期2019年7月10日，檢自：
https：//www.blocktempo.com/fsc-sto-regulation-define-two-type-of-st/
55. 楊岳平，評金管會最新 STO 規範——百廢待興下的小步舞曲，瀏覽日期2019年7月10日，檢自：https：//www.blocktempo.com/fsc-sto-regulation-review-a-little-step-by-step/
56. 股權群募門檻高無人成功 ，瀏覽日期2019年7月10日，檢自：
https：//ec.ltn.com.tw/article/paper/1145494
57. 創櫃板效益差 顧立雄：考慮設特殊版，瀏覽日期2019年7月10日，檢自：https：//www.chinatimes.com/newspapers/20171006000050-260202？chdtv
58. 許毓仁，STO豁免值得讚許但起步過於保守，瀏覽日期2019年7月10日，檢自：https：//www.facebook.com/congress.jason/posts/2345781915633772/
59. 金融消費者保護法與證券投資人及期貨交易人保護法兩者差異之研究，瀏覽日期2019年7月10日，檢自：
http//www.tfsr.org.tw/Uploads/uploads/%E3%80%8C%E9%87%91%E8%9E%8D%E6%B6%88%E8%B2%BB%E8%80%85%E4%BF%9D%E8%AD%B7%E6%B3%95%E8%88%87%E8%AD%89%E5%88%B8%E6%8A%95%E8%B3%87%E4%BA%BA%E5%8F%8A%E6%9C%9F%E8%B2%A8%E4%BA%A4%E6%98%93%E4%BA%BA%E4%BF%9D%E8%AD%B7%E6%B3%95%E5%85%A9%E8%80%85%E5%B7%AE%E7%95%B0%E4%B9%8B%E7%A0%94%E7%A9%B6%E3%80%8D-Q&A.pdf
60. 蔡朝安，金融消費爭議處理制度─金保法與投保法， 瀏覽日期2019年7月10日，檢自：http：//www.alum.ntu.edu.tw/wordpress/wp-content/uploads/2014/05/no93-e887bae5a4a7e6a0a1e58f8be99b99e69c88e5888a-e6b395e5be8be88887e7949fe6b4bbe894a1e69c9de5ae89.pdf
61. 臧正運，證券型代幣（STO）規範的落地與想像，瀏覽日期2019年7月10日，檢自：
https：//www.inside.com.tw/article/16772-STO-in-Taiwan
63. 行政院，洗錢的態樣有哪些，瀏覽日期2019年7月10日，檢自：
https：//www.amlo.moj.gov.tw/1461/1477/1480/3219/
64. 立法院第 9 屆第 6 會期第 2 次會議議案關係文書，瀏覽日期2019年7月10日，檢自：
https//lci.ly.gov.tw/LyLCEW/agenda1/02/pdf/09/06/02/LCEWA01_090602_00008.pdf
65. 虛擬貨幣 下半年納入洗錢防制，瀏覽日期2019年7月10日，檢自：
https：//udn.com/news/story/7239/3875776
66. 虛擬通貨平台業者對《反洗錢防制法》修正案意見，瀏覽日期2019年7月10日，檢自：
https：//view.ctee.com.tw/legal/8743.html
四、 英文書籍
1.Roger McCormick., (2006), Legal Risk in the Financial Markets,Oxford University Press,pp59-89.
2. Ken Brown&Peter Moles,(2016),Credit Risk Management ,Edinburgh Business School,pp1044-1052.
3.Tyler Moore Nicolas Christin, (2013),Beware the Middleman:Empirical Analysis of Bitcoin-Exchange Risk, Springer.
4. Frederick D. Lipman,(2008), International and US IPO Planning:A Business Strategy Guide , Wiley,pp23-25.
6. Mary Condon, Anita Anand, Janis Sarra, Sarah Bradley ,(2017),Securities Law in Canada:Cases and Commentary, Emond ,pp125-133.
7. Paul Vigna、Michael J. Casey,(2018),The Truth Machine:The Blockchain and the Future of Everything, St. Martin`s Press ,pp10-17.
五、 英文期刊
1.Kevin Werbach ,（2018）,Trust, But Verify: Why the Blockchain Needs the Law, Berkeley Tech. L.J. 489 ,p515.
2.Paweł Smaga , (2014),The Concept of Systemic Risk Systemic Risk Centre Special Paper, Systemic Risk Centre Special Paper No 5, The London School of Economics and Political Science,p25.
3.Monica Billio ,(2012),Econometric measures of connectedness and systemic risk in the finance and insurance sectors,University Ca` Foscari of Venice, Dept. of Economics Research Paper Series No. 21,pp535-559.
4.Dennis Chu,(2019),Broker-Dealers for Virtual Currency: Regulating Cryptocurrency Wallets and Exchanges Columbia Law Review ,VOL. 118,NO. 8.
5.JAMES D. GORDON III,(2011),Defining a Common Enterprise in Investment Contracts,OHIO STATE LAW JOURNAL vol72,PP61-93.
6.Gary DeWaal ,(2015), New York BitLicense regulations virtually certain to significantly impact transactions in virtual currencies , Journal of investment compliance. Vol. 16 issue：4,pp.59-65.
7.Janet Austin ,(2016),What Exactly Is Market Integrity？An Analysis of One of the Core Objectives of Securities Regulation, William & Mary Business Law Review 215 ,pp2-23.
8.Neil Tiwari, （2018）,The Commodification of Cryptocurrency, Michigan Law Review. 611.pp15-19.
六、 英文網站
1. Bitcoin： A Peer-to-Peer Electronic Cash System , Retrieved June 12 2019, from:https：//bitcoin.org/bitcoin.pdf.
2. How It All Began： A Brief History On Bitcoin & Cryptocurrencies – Ledger, Retrieved June 12 2019, from:
https：//www.ledger.com/how-it-all-began-a-brief-history-of-bitcoin-cryptocurrencies/
3. The Economist， The Market in Initial Coin Offerings Risks Becoming a Bubble. Retrieved June 12 2019, from:
http：//www.economist.com/news/finance-and-economics/21721425-it-may-also-spawn-valuable-innovations-marketinitial-coin-offerings
4. Crypto-asset markets Potential channels for future financial stability implications .Retrieved June 12 2019, from:https：//www.fsb.org/wp-content/uploads/P101018.pdf
5. GLOBAL CRYPTOASSET REGULATORY LANDSCAPE STUDY, Retrieved Aug 12 2019, from:
https：//www.jbs.cam.ac.uk/fileadmin/user_upload/research/centres/alternative-finance/downloads/2019-04-ccaf-global-cryptoasset-regulatory-landscape-study.pdf
6. European Central Bank, Virtual currency schemes, Retrieved Aug 12 2019, from:
https：//www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemes201210en.pdf
7. Virtual currency schemes –a further analysis, Retrieved Aug 12 2019, from:
https：//www.ecb.europa.eu/pub/pdf/other/virtualcurrencyschemesen.pdf
8.IMF ,Virtual Currencies and Beyond： Initial Considerations, Retrieved Aug 12 2019, from:
https：//www.imf.org/external/pubs/ft/sdn/2016/sdn1603.pdf
9. Albert Wenger,Bitcoin：Clarifying the Foundational Innovation of the Blockchain Continuations , Retrieved Aug 12 2019, from:
http：// continuations.com/post/105272022635/bitcoin-clarifying-the foundational-innovation-of.com.
10. John R.Douceur， The Sybil Attack- Revised Papers from the First International Workshop on Peer-to-Peer Systems , Retrieved Aug 12 2019, from:
http：//nakamotoinstitute.org/static/docs/the-sybil-attack.pdf.
11. Leslie Lamport,Robert Shostak & Marshall Pesce, The Byzantine Generals Problem, Retrieved Aug 12 2019, from:
https：//people.eecs.berkeley.edu/~luca/cs174/byzantine.pdf
12. Blockchain： how a 51% attack works （double spend attack） , Retrieved Aug 12 2019, from:https：//medium.com/coinmonks/what-is-a-51-attack-or-double-spend-attack-aa108db63474
13. What is Proof of Stake？ （PoS） , Retrieved Aug 12 2019, from:https：//medium.com/nakamo-to/what-is-proof-of-stake-pos-479a04581f3a
14. Proof of Stake FAQ, Retrieved Aug 12 2019, from:
https：//github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
15. A Deeper Look at Different Smart Contract Platforms, Retrieved Aug 12 2019, from:https：//blockgeeks.com/guides/different-smart-contract-platforms/
16. H. Shadab， WhatAre Smart Contracts and What Can We dowith them？ , Retrieved Aug 12 2019, from:https：//coincenter.org/entry/what-are-smart-contracts-and-what-can-we-dowith-them
18. How Do Ethereum Smart Contracts Work？ , Retrieved Aug 12 2019, from:
https：//www.coindesk.com/information/ethereum-smart-contracts-work
19. Ethereum： We Haven’t Seen the Last of the Bug That Killed the DAO, , Retrieved Aug 12 2019, from:https：//www.ccn.com/ethereum-we-havent-seen-the-last-of-the-bug-that-killed-the-dao/
20. Researchers： Last Year’s ICOs Had Five Security Vulnerabilities on Average
, Retrieved Aug 12 2019, from:https//www.bleepingcomputer.com/news/security/researchers-last-year-s-icos-had-five- security-vulnerabilities-on-average/
21. Smart Contract Attacks [Part 1] - 3 Attacks We Should All Learn From The DAO
, Retrieved Aug 12 2019, from:
https：//hackernoon.com/smart-contract-attacks-part-1-3-attacks-we-should-all-learn-from-the-dao-909ae4483f0a
22. Hot wallet vs cold wallet in cryptocurrency storage, Retrieved Aug 12 2019, from:https：//www.coininsider.com/hot-vs-cold-wallets-cryptocurrency/
23. Litecoin - Do You Need This Altcoin？ Retrieved Aug 12 2019, from:https：//www.tradingview.com/chart/LTCUSD/tVzBQ0Kl-Litecoin-Do-You-Need-This-Altcoin/
24. Coins Tokens & Altcoins： What’s the Difference？ Retrieved Aug 12 2019, from:https：//masterthecrypto.com/differences-between-cryptocurrency-coins-and-tokens/
25. Swiss FINMA:ICO guidelines , Retrieved Aug 12 2019, from:
https：//www.finma.ch/en/news/2018/02/20180216-mm-ico-wegleitung/（last visited Jul. 20， 2018）
26. Cryptoassets Taskforce report , Retrieved Aug 12 2019, from:
https//assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf
27. Initial Coin Offerings (ICOs) for SME Financing - OECD, Retrieved Aug 12 2019, from:
http：//www.oecd.org/finance/ICOs-for-SME-Financing.pdf
28. IPO and ICO markets at a glance A current snapshot Retrieved Aug 12 2019, from:https：//www.ey.com/Publication/vwLUAssets/ey-ipo-and-ico-markets-at-a-glance/$FILE/ey-ipo-and-ico-markets-at-a-glance.pdf
30. Crypto-asset markets Potential channels for future financial stability implications Retrieved Aug 12 2019, from:https：//www.fsb.org/wp-content/uploads/P101018.pdf
31. WSJ Report： ICO’s have raised 58 times less in the First Quarter of 2019, Retrieved Aug 12 2019compared to last year, from:https：//cryptonewsbytes.com/wsj-report-icos-have-raised-58-times-less-in-the-first-quarter-of-2019-compared-to-last-year/cryptocurrency/
32. ICO / STO Report A Strategic Perspective 4th ,Retrieved Aug 12 2019, from:
https：//cryptovalley.swiss/wp-content/uploads/ch-20190308-strategyand-ico-sto-report-q1-2019.pdf
33. Exchange Types ,Retrieved Aug 12 2019, from:https：//www.bestbitcoinexchange.io/exchange-types/
34. Nakamoto Satoshi :Bitcoin A Peer-to-Peer Electronic Cash System,Retrieved Aug 12 2019, from:https：//bitcoin.org/bitcoin.pdf
35. Coinbase -Where Can I Find the Private Keys for My Wallet,Retrieved Aug 12 2019, from: https：//support.coinbase.com/customer/portal/articles/1526452-where-can-i-find-the-private-keys-for-my-wallet-
36. Crypto Exchanges： Custodial vs. Non-Custodial vs. Decentralized,Retrieved Aug 12 2019, from:https：//medium.com/@jacobrobertwoods/crypto-exchanges-custodial-vs-non-custodial-vs-decentralized-3d1d04cf205
37. Why Centralized Cryptocurrency Exchanges Make Terrible Custodians For Crypto Assets,Retrieved Aug 12 2019, from:
https：//www.forbes.com/sites/rachelwolfson/2018/11/07/why-centralized-cryptocurrency-exchanges-make-terrible-custodians-for-crypto-assets/#3e2378492e18
38. What is a decentralised exchange？ ,Retrieved Aug 12 2019, from:
https：//medium.com/@sytaylor/what-is-a-decentralised-exchange-e2b86e844fe9
39. Alex Wearn,Pragmatic Decentralization： How IDEX Will Approach Industry Regulation,Retrieved Aug 12 2019, from:
https：//medium.com/aurora-dao/pragmatic-decentralization-how-idex-will-approach-industry-regulations-8b109212128a
40. Tony Sheng,Let’s Ditch Decentralized,Retrieved Aug 12 2019, from:https：//www.tonysheng.com/decentralized-definition
41. Alex Wearn,Pragmatic Decentralization： How IDEX Will Approach Industry Regulation,Retrieved Aug 12 2019, from:
https：//medium.com/aurora-dao/pragmatic-decentralization-how-idex-will-approach-industry-regulations-8b109212128a
42. Tokeninsight:2018 Cryptocurrency Exchange Annual Report,Retrieved Aug 12 2019, from:https：//tokeninsight.com/api/upload/dashboardPdf/TI-2018%20Exchange%20Annual%20Report%2020190124.pdf
43. BTI:MARKET SURVEILLANCE REPORT ,Retrieved Aug 12 2019, from: https：//www.bti.live/reports-april2019/
45. Principles for Financial Market Infrastructures, ,Retrieved Aug 12 2019, from:
https：//www.bis.org/cpmi/publ/d101a.pdf
46. Major Crypto Exchange in Korea Shut Down in April, ,Retrieved Aug 12 2019, from: https：//cointelegraph.com/news/major-crypto-exchange-in-korea-shuts-down-2018-was-a-nightmare-for-most
47. Global systemically important banks：assessment methodology and the additional loss absorbency requirement Rules text ,Retrieved Aug 12 2019, from:https：//www.bis.org/publ/bcbs207.pdf
48. Basel Committee on Banking Supervision A framework for dealing with domestic systemically important banks,Retrieved Aug 12 2019, from:
https：//www.bis.org/publ/bcbs233.pdf
49. Facebook wants to make cryptocurrency mainstream. ,Retrieved Aug 12 2019, from:https：//edition.cnn.com/2019/06/18/tech/facebook-Libra-cryptocurrency/index.html
50. An Even-handed Approach to Crypto-Assets,Retrieved Aug 12 2019, from:
https：//blogs.imf.org/2018/04/16/an-even-handed-approach-to-crypto-assets/
51. Cryptocurrencies are ‘clearly shaking the system，’ IMF’s Lagarde says,Retrieved Aug 12 2019, from:https//www.cnbc.com/2019/04/11/cryptocurrencies-fintech-clearly-shaking-the-system-imfs-lagarde.html
52. The Next Steps for International Cooperation in Fintech Opening Remarks by Christine Lagarde, Managing Director,IMF G20 High Level Seminar “Our Future in the Digital Age,Retrieved Aug 12 2019, from:https：//www.imf.org/zh/News/Articles/2019/06/07/sp060819-lagarde-the-next-steps-for-international-cooperation-in-fintech
53. Facebook’s cryptocurrency faced with regulatory warnings from global central bankers, ,Retrieved Aug 12 2019, from:https：//www.cnbc.com/2019/06/20/facebook-Libra-cryptocurrency-faced-with-central-bank-warnings.html
54. Fed chief calls for Facebook to halt Libra project until concerns addressed, ,Retrieved Aug 12 2019, from:https：//www.reuters.com/article/us-usa-fed-powell-Libra/fed-chief-calls-for-facebook-to-halt-Libra-project-until-concerns-addressed-idUSKCN1U51VE
55. The Guardian:Bitcoin price plunges after cryptocurrency exchange is hacked,Retrieved Aug 12 2019, from: https//www.theguardian.com/technology/2018/jun/11/bitcoin-price-cryptocurrency-hacked-south-korea-coincheck
56. Do exchanges pose a systemic risk？ Retrieved Aug 12 2019, from:https：//hackernoon.com/do-exchanges-pose-a-systemic-risk-85af921ea6c9
57. The Wallstreet Journal,Bots Are Manipulating Price of Bitcoin in Wild West of Crypto,Retrieved Aug 12 2019, from: https：//www.wsj.com/articles/the-bots-manipulating-bitcoins-price-1538481600
58. BTI,MARKET SURVEILLANCE REPORT,Retrieved Aug 12 2019, from:https：//www.bti.live/reports-april2019/
59. Meet ‘Spoofy’. How a Single entity dominates the price of Bitcoin,Retrieved Aug 12 2019, from:https：//hackernoon.com/meet-spoofy-how-a-single-entity-dominates-the-price-of-bitcoin-39c711d28eb4
60. 95% Of Volume Could Be Wash Trading As Bitcoin Price Surges,Retrieved Aug 12 2019, from:https：//www.forbes.com/sites/tomrodgers1/2019/04/04/99-of-volume-could-be-wash-trading-as-bitcoin-takes-back-5000#37d1aa412d99
61. Crypto Exchanges Are Facing Their Biggest Regulatory Hurdle Yet,,Retrieved Aug 12 2019, from:https：//www.bloomberg.com/news/articles/2019-06-11/crypto-exchanges-are-facing-biggest-regulatory-hurdle-yet
63. Wall Street Journal,Buyer Beware：Hundreds of Bitcoin Wannabes Show Hallmarks of Fraud,Retrieved Aug 12 2019, from: https：//www.wsj.com/articles/buyer-beware-hundreds-of-bitcoin-wannabes-show-hallmarks-of-fraud-1526573115
64. FinCEN Fines BTC-e Virtual Currency Exchange $110 Million for Facilitating Ransomware,Retrieved Aug 12 2019, from: https：//www.fincen.gov/news/news-releases/fincen-fines-btc-e-virtual-currency-exchange-110-million-facilitating-ransomware
65. Case 1：19-cv-05244 Document 1 Filed 06/04/19 ,Retrieved Aug 12 2019, from:https：//www.sec.gov/litigation/complaints/2019/comp-pr2019-87.pdf
67. SEC’s Crypto Czar Says Exchanges That List IEOs May Face Legal Risks， ,Retrieved Aug 12 2019, from: https：//www.coindesk.com/secs-crypto-czar-says-exchanges-that-list-ieo-tokens-may-face-legal-risks
68. ORDER INSTITUTING CEASE-ANDDESIST PROCEEDINGS PURSUANT TO SECTION 21C OF THE SECURITIES EXCHANGE ACT OF 1934， MAKING FINDINGS AND IMPOSING A CEASEAND-DESIST ORDER,Retrieved Aug 12 2019, from: https：//www.sec.gov/litigation/admin/2018/34-84553.pdf
71. Pricing Crypto Exchange Credit Risk Historical study of cryptocurrency exchange defaults, ,Retrieved Aug 12 2019, from:https：//hackernoon.com/pricing-crypto-exchange-credit-risk-f91b5996eaad
73. The Committee of European Banking Supervisors （CEBS）， SECOND PART OF CEBS’S TECHNICAL ADVICE TO THE EUROPEAN COMMISSION ON LIQUIDITY RISK MANAGEMENT， ,Retrieved Aug 12 2019, from:https：//eba.europa.eu/cebs-technical-advice-on-liquidity-risk-management-second-part
75. Pricing Crypto Exchange Credit Risk，Historical study of cryptocurrency exchange defaults .https：//hackernoon.com/pricing-crypto-exchange-credit-risk-f91b5996eaad
76. Olga Kharif, Bloomberg-The Bitcoin Whales： 1000 People Who Own 40 Percent of the Market， ,Retrieved Aug 12 2019, from:https//www.bloomberg.com/news/articles/2017-12-08/the-bitcoin-whales-1-000-people-who
77. The Wall Street Journal,Bitfinex Used Tether Reserves to Mask Missing $850 Million,Retrieved Aug 12 2019, from:https：//www.wsj.com/articles/bitfinex-used-tether-reserves-to-mask-missing-850-million-probe-finds-11556227031
78. Mystery as Quadriga crypto-cash goes missing,Retrieved Aug 12 2019, from:https：//www.bbc.com/news/technology-47454528
79. Wild Crypto Market’s Traders Get Something New： FDIC Protection,Retrieved Aug 12 2019, from:https：//www.bloomberg.com/news/articles/2019-05-14/wild-crypto-market-s-traders-get-something-new-fdic-protection
82. Coinbase Ethereum Classic Double Spending Involved More Than $1.1 Million in Crypto ,Retrieved Aug 12 2019, from:https：//cointelegraph.com/news/coinbase-ethereum-classic-double-spending-involved-more-than-11-million-in-crypto
83. Most Bitcoin Trading Faked by Unregulated Exchanges. Study Finds Bitwise’s research casts new doubts about fraud in nascent markethttps//www.wsj.com/articles/most-bitcoin-trading-faked-by-unregulated-exchanges-study-finds-11553259600
84. FATF-What is Money Laundering？ ,Retrieved Aug 12 2019, from:https：//www.fatf-gafi.org/faq/moneylaundering/
85. 2018 Q4-Cryptocurrency Anti-Money Laundering Report,Retrieved Aug 12 2019, from: https：//ciphertrace.com/wpcontent/uploads/2019/01/crypto_aml_report_2018q4.pdf
86. Coinfirm Exchange Report Coindesk，,Retrieved Aug 12 2019, from: https：//zh.scribd.com/document/403354285/Coinfirm-Exchange-Report-Coindesk#from_embed？campaign=SkimbitLtd&ad_group=100652X1574425Xe73ed49ce14f71297f747f8b88619603&keyword=660149026&source=hp_affiliate&medium=affiliate
88. Virtual Currencies： Key Definitions and Potential AML/CFT Risks， ,Retrieved Aug 12 2019, from: https：//www.fatfgafi.org/media/fatf/documents/reports/Virtual-currency-key-definitions-and-potential-aml-cft-risks.pdf
89. Public Statement – Mitigating Risks from Virtual Assets ,Retrieved Aug 12 2019, from: http：//www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets-interpretive-note.html
90. Communiqué，G20 Finance Ministers and Central bank Governors Meeting， Fukuoka. ,Retrieved Aug 12 2019, from:：https：//www.mof.go.jp/english/international_policy/convention/g20/communique.htm
91. Issues Risks and Regulatory Considerations Relating to Crypto-Asset Trading Platforms Consultation Report ,Retrieved Aug 12 2019, from:https：//www.iosco.org/Library/pubdocs/pdf/IOSCOPD627.pdf
92. Full text of the G20 Osaka leaders declaration ,Retrieved Aug 12 2019, from:https：//www.japantimes.co.jp/news/2019/06/29/national/full-text-g20-osaka-leaders-declaration/#.XR_7UegzZPZ
93. Crypto-assets:Work underway. regulatory approaches and potential gaps,Retrieved Aug 12 2019, from: https：//www.fsb.org/2019/05/crypto-assets-work-underway-regulatory-approaches-and-potential-gaps/
94. FSB Decentralised financial technologies： Report on financial stability， regulatory and governance implications， ,Retrieved Aug 12 2019, from: https：//www.fsb.org/2019/06/decentralised-financial-technologies-report-on-financial-stability-regulatory-and-governance-implications/
95. Bloomberg，Andrea Tan -Another Giant Crypto Exchange Is Moving to Tiny Malta.April. ,Retrieved Aug 12 2019, from:https：www.bloomberg.com/news/articles/2018-04-12/another-giant-cryptocurrency-exchange-is-moving-to-tiny-malta
97. Regulation of virtual assets, ,Retrieved Aug 12 2019, from:
https：//www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets.html
98. Public Statement – Mitigating Risks from Virtual Assets ,Retrieved Aug 12 2019, from:
http：//www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets-interpretive-note.html
99. VIRTUAL ASSETS AND VIRTUAL ASSET SERVICE PROVIDERS,,Retrieved Aug 12 2019, from:
http：//www.fatf-gafi.org/media/fatf/documents/recommendations/RBA-VA-VASPs.pdf
100. ICO Statistics - By Country, ,Retrieved Aug 12 2019, from:
https：//icowatchlist.com/statistics/geo
101. The department of the treasury blueprint for a modernized financial regulatory structure ,Retrieved Aug 12 2019, from:https：//www.treasury.gov/press-center/press-releases/Documents/Blueprint.pdf
102. Digital Asset Transactions- When Howey Met Gary,Retrieved Aug 12 2019, from: https：//www.sec.gov/news/speech/speech-hinman-061418#_ftn11
103. Framework for “Investment Contract” Analysis of Digital Assets,Retrieved Aug 12 2019, from: https：//www.sec.gov/files/dlt-framework.pdf
105. United states of america before the securities and exchange commission, ,Retrieved Aug 12 2019, from:
https：//www.sec.gov/litigation/admin/2018/33-10530.pdf
106. Statement on Cryptocurrencies and Initial Coin Offerings,Retrieved Aug 12 2019, from: Chairman Jay Clayton
https：//www.sec.gov/news/public-statement/statement-clayton-2017-12-11
107. Report of Investigation Pursuant to Section 21（a） of the Securities Exchange Act of 1934：The DAO ,Retrieved Aug 12 2019, from:https：//www.sec.gov/litigation/investreport/34-81207.pdf
108. ADMINISTRATIVE PROCEEDING File No. 3-18304， In the Matter of MUNCHEE INC.,Retrieved Aug 12 2019, from:
https：//www.sec.gov/litigation/admin/2017/33-10445.pdf
109. SEC Complaint： REcoin Group Foundation,Retrieved Aug 12 2019, from:https：//www.sec.gov/litigation/complaints/2017/comp-pr2017-185.pdf
110. REGULATION A+ （REG A+） ,Retrieved Aug 12 2019, from:
https：//www.nyse.com/regulation-a
111. Regulation of Exchanges and Alternative Trading Systems In the Matter of ZACHARY COBURN,Retrieved Aug 12 2019, from:
https：//www.sec.gov/litigation/admin/2018/34-84553.pdf
113. SEC Crypto Czar： Platforms Listing IEOs May Face Regulatory Trouble,Retrieved Aug 12 2019, from: https：//cointelegraph.com/news/sec-crypto-czar-platforms-listing-ieos-may-face-regulatory-trouble
115. Redefining the Bank Secrecy Act:Currency Reporting and the Crime of Structuring,Retrieved Aug 12 2019, from:https：//digitalcommons.law.scu.edu/cgi/viewcontent.cgi？referer=&httpsredir=1&article=1058&context=lawreview
116. History of Anti-Money Laundering Laws,Retrieved Aug 12 2019, from:
https：//www.fincen.gov/history-anti-money-laundering-laws
117. Application of FinCEN’s Regulations to Persons Administering Exchanging or Using Virtual Currencies ,Retrieved Aug 12 2019, from:
https：//www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf
118. UNITED STATES OF AMERICA DEPARTMENT OF THE TREASURY FINANCIAL CRIMES ENFORCEMENT NETWORK IN THE MATTER,Retrieved Aug 12 2019, from:
https：//www.fincen.gov/sites/default/files/enforcement_action/2019-04-18/Assessment%20Eric%20Powers%20Final%20for%20Posting%2004.18.19_1.pdf
119. H.R.6411 - FinCEN Improvement Act of 2018,Retrieved Aug 12 2019, from:
https：//www.congress.gov/bill/115th-congress/house-bill/6411/text
120. Application of FinCEN’s Regulations to Certain Business Models Involving Convertible Virtual Currenciesm 2019/05,Retrieved Aug 12 2019, from:
https//www.fincen.gov/sites/default/files/201905/FinCEN%20Guidance%20CVC%20FINAL%20508.pdf
121. U.S. regulator to allow CME， CBOE to list bitcoin futures ,Retrieved Aug 12 2019, from:https：//www.reuters.com/article/uk-markets-bitcoin/u-s-regulator-to-allow-cme-cboe-to-list-bitcoin-futures-idUSKBN1DV3J2
122. CFTC Statement on Self-Certification of Bitcoin Products by CME, CFE and Cantor Exchange,Retrieved Aug 12 2019, from: https：//www.cftc.gov/PressRoom/PressReleases/pr7654-17
123. CFTC Approves LedgerX LLC as a Designated Contract Market, ,Retrieved Aug 12 2019, from: https：//www.cftc.gov/PressRoom/PressReleases/7945-19
124. CFTC Orders Bitcoin Options Trading Platform Operator and its CEO to Cease Illegally Offering Bitcoin Options and to Cease Operating a Facility for Trading or Processing of Swaps without Registering ,Retrieved Aug 12 2019, from:https：//www.cftc.gov/PressRoom/PressReleases/pr7231-15
125. CIVIL ACTION NO. 18-10077-RWZ COMMODITY FUTURES TRADING COMMISSION v. MY BIG COIN PAY INC,Retrieved Aug 12 2019, from: https：//www.cftc.gov/sites/default/files/2018-10/enfmybigcoinpayincmemorandum092618.pdf
127. Skadden Arps Slate Meagher & Flom LLP Federal Judge Rules Virtual Currencies Are Commodities Under the Commodity Exchange Act,Retrieved Aug 12 2019, from:https：//www.skadden.com/insights/publications/2018/03/federal-judge-rules-virtual-currencies
128. Idaho Department of Finance Letter Re Money Transmissions ,Retrieved Aug 12 2019, from:
https：//www.finance.idaho.gov/legal/no-action-opinion-letters/money-transmitter/documents/digital-currency/2018-11-01.pdf
129. No Action & Opinion Letters Money Transmitters ,Retrieved Aug 12 2019, from:https：//www.finance.idaho.gov/legal/no-action-opinion-letters/money-transmitter/documents/digital-currency/2014-10-10.pdf
130. NY DFS RELEASES PROPOSED BITLICENSE REGULATORY FRAMEWORK FOR VIRTUALCURRENCYFIRMS ,Retrieved Aug 12 2019, from:https：//web.archive.org/web/20140923054843/http：/www.dfs.ny.gov/about/press2014/pr1407171.html
132. Arizona Becomes First U.S. State To Launch Regulatory Sandbox For Fintech ,Retrieved Aug 12 2019, from:https：//www.forbes.com/sites/astanley/2018/03/23/arizona-becomes-first-u-s-state-to-launch-regulatory-sandbox-for-fintech/#5cf6f3861372
133. Maryland Financial Consumer Protection Commission 2018 FINAL REPORT,Retrieved Aug 12 2019, from:
https：//www.consumerfinancemonitor.com/wp-content/uploads/sites/14/2019/01/1-Cover-Letter-for-Annual-Report-2018-002-1.pdf
134. Virtual Currencies： Risks for Buying Selling Transacting and Investing - Advisory Notice 14-01 - ATTENTION MARYLAND RESIDENTS ,Retrieved Aug 12 2019, from: https：//www.dllr.state.md.us/finance/advisories/advisoryvirtual.shtml
135. State Money Transmitter Laws Update： Then There Was One,Retrieved Aug 12 2019, from:
https：//www.jdsupra.com/legalnews/state-money-transmitter-laws-update-55985/
136. Nevada strengthens stake in blockchain industry after Sisolak OKs trio of bills, ,Retrieved Aug 12 2019, from:
https：//www.nnbusinessview.com/news/nevada-strengthens-stake-in-blockchain-industry-after-sisolak-oks-trio-of-bills/
138. Sales/Use/Indirect：Missouri： DOR Says Provider of ATMs is not Required to Collect Tax on Transfer of Bitcoin Virtual Currency ,Retrieved Aug 12 2019, from: http：//newsletters.usdbriefs.com/2014/Tax/STM/141010_2.pdf
139. Money Transmitter Act Guidance for Virtual Currency Businesses,Retrieved Aug 12 2019, from: https//www.dobs.pa.gov/Documents/Securities%20Resources/MTA%20Guidance%20for%20Virtual%20Currency%20Businesses.pdf
140. Supervisory Memorandum 1037 “Regulatory Treatment of Virtual Currencies Under the Texas Money Services Act the Texas Department of Banking ,Retrieved Aug 12 2019, from:
https：//www.dob.texas.gov/public/uploads/files/consumer-information/sm1037.pdf
141. Bitstamp Granted BitLicense, Will Expand Crypto Services in US ,Retrieved Aug 12 2019, from:https：//www.coindesk.com/bitstamp-granted-bitlicense-will-expand-crypto-services-in-us
142. https：//www.dfs.ny.gov/system/files/documents/2019/04/dfs-bittrex-letter-41019.pdf
143. VIRTUAL MARKETS INTEGRITY INITIATIVE REPORT ,Retrieved Aug 12 2019, from:https：//ag.ny.gov/sites/default/files/vmii_report.pdf？mod=article_inline
144. Petitioner.iFINEX INC.. BFXNA INC.. B,Retrieved Aug 12 2019, from:https：//iapps.courts.state.ny.us/fbem/DocumentDisplayServlet？documentId=vIexA1b0spKOnK_PLUS_ZUGTJ3A==&system=prod
146. Blockchain： A Very Short History Of Ethereum Everyone Should Read ,Retrieved Aug 12 2019, from:https：//www.forbes.com/sites/bernardmarr/2018/02/02/blockchain-a-very-short-history-of-ethereum-everyone-should-read/#69085ec31e89
147. The Blockchain Research Institute ,Retrieved Aug 12 2019, from:https：//www.blockchainresearchinstitute.org/#
148. Government Death Certificate Says QuadrigaCX CEO Died in India ,Retrieved Aug 12 2019, from:https：//www.coindesk.com/indian-death-certificate-crypto-exchange-quadrigacx-death
149. CSA Regulatory Sandbox ,Retrieved Aug 12 2019, from:https//www.securities-dministrators.ca/industry_resources.aspx？id=1588
151. The HKMA reminds the public to be aware of the risks associated with Bitcoin， ,Retrieved Aug 12 2019, from:https：//www.hkma.gov.hk/eng/key-information/press-releases/2015/20150211-3.shtml
152. Welcome to the official White Paper,Retrieved Aug 12 2019, from:https：//Libra.org/en-US/white-paper/
153. Visa Mastercard PayPal Join Facebook to Form Crypto Effort,Retrieved Aug 12 2019, from:
https：//www.bloomberg.com/news/articles/2019-06-18/visa-mastercard-paypal-join-facebook-in-forming-crypto-effort
155. Joel Seligman The New Uniform Securities Act ,Retrieved Aug 12 2019, from:https：//openscholarship.wustl.edu/cgi/viewcontent.cgi？referer=&httpsredir=1&article=1282&context=law_lawreview
156. DIVISION OF BANKING AND SECURITIES_Limited License Agreement Orders,Retrieved Aug 12 2019, from:
https：//www.commerce.alaska.gov/web/dbs/LimitedLicenseAgreementOrders.aspx
157.FSB- Crypto-asset markets Potential channels for future financial stability 2,Retrieved Aug 12 2019, from:https//www.osc.gov.on.ca/en/SecuritiesLaw_csa_20190314_21-402_crypto-asset-trading-platforms.htm
158. Pwc-Initial Coin Offerings -A strategic perspective,Retrieved Aug 12 2019, from:https//www.pwc.ch/en/publications/2018/20180628_PwC%20S&%20CVA%20ICO%20Report_EN.pdf
159. Regulation of virtual assets,Retrieved Aug 12 2019, from:
https：//www.fatf-gafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets.html
160. Public Statement – Mitigating Risks from Virtual Assets ,Retrieved Aug 12 2019, from:http//www.fatfgafi.org/publications/fatfrecommendations/documents/regulation-virtual-assets-interpretive-note.html
161. MAS-Consultation Paper P010 – 2018： Review of the Recognised Market Operators Regime,Retrieved Aug 12 2019, from: https//www.mas.gov.sg/publications/consultations/2018/consultation-paper-on-sandbox-express2018）
162. Wilmer Hale- 2018 IPO Report ,Retrieved Aug 12 2019, from: https：//www.wilmerhale.com/en/insights/publications/2018-ipo-report
163. Modernizing regulation to support fintech innovation, ,Retrieved Aug 12 2019, from:https：//www.osc.gov.on.ca/en/osclaunchpad.htm
164. ISSA -Infrastructure for Crypto-Assets：A Review by Infrastructure Providers/whitepaper ,Retrieved Aug 12 2019, from: https//bito.bitopro.com/docs/whitepaper-zh_TW.pdf
165. FORM 21-101F1 INFORMATION STATEMENT EXCHANGE OR QUOTATION AND TRADE REPORTING SYSTEM,Retrieved Aug 12 2019, from:
https：//www.albertasecurities.com/-/media/ASC-Documents-part-1/Regulatory-Instruments/2018/10/NOTE-CHANGE-815537-v2-ATS-FORMS-FINAL-VERSION-0CT-29-ORIGINAL-document-WAS-815537version1.ashx |
| Description: | 碩士
國立政治大學
法律學系
1056510081 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G1056510081 |
| Data Type: | thesis |
| DOI: | 10.6814/NCCU201900993 |
| Appears in Collections: | [法律學系] 學位論文
|
Files in This Item:
| File |
Size | Format | |
|---|
| 008101.pdf | 2266Kb | Adobe PDF2 | 0 | View/Open |
|
All items in 政大典藏 are protected by copyright, with all rights reserved.
|
