Narrow Results

The question of regulation in the domain of cryptocurrencies has been tackled in various ways, exhibiting therein a desire to strike a balance between fostering innovation and promoting oversight. This chapter examines the case of BitLicense, issued by the New York Department of Financial Services (DFS), with the aim of contextualizing the relative merits of regulatory and oversight initiatives in the domain of cryptocurrencies. This includes an examination of the impact and critiques regarding BitLicense since its promulgation, along with the use of perspectives from public value theory (PVT) to contextualize the value creation efforts of the DFS using BitLicense as a regulatory instrument. The findings of the chapter suggest that contrasting views exist on the value creation of cryptocurrency regulations, and this is reflected both in a PVT approach as well as the evolving praxis of virtual currency regulatory and oversight efforts.