Skip to main content
SpringerLink
Log in

Stablecoin as a New Financial Instrument

  • Conference paper
  • First Online:
Digital Age: Chances, Challenges and Future (ISCDTE 2019)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 84))

Abstract

The author considers the legal and economic nature of stablecoin, the development stages of low-volatility assets, describes the existing models of their implementation in the public and private sectors. Particular attention is paid to the assessment of legal risks of mono-secured and multi-secured cryptocurrency on the example of projects in Venezuela and Russia, as well as the possibility of using stablecoin for the development of the financial system and evasion from economic sanctions.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 169.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 219.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Bank of Russia can create its own cryptocurrency – Nabiullina (2019). https://www.pravda.ru/news/economics/1421461-crypto/. Accessed 19 June 2019. (in Russian)

  2. Barontini, Ch., Holden, H.: BIS Papers No. 101 Proceeding with caution – a survey on central bank digital currency. Bank for International Settlements (2019). https://www.bis.org/publ/bppdf/bispap101.htm. Accessed 19 June 2019

  3. Blockchain 2019 State of Stablecoin (2019). https://www.blockchain.com/ru/research. Accessed 19 June 2019. (in Russian)

  4. Böhme, R., Christin, N., Edelman, B., Moore, T.: Bitcoin: Economics, technology, and governance. J. Econ. Perspect. 29(2), 213–238 (2015). https://doi.org/10.1257/jep.29.2.213

    Article  Google Scholar 

  5. Bondar, D.: Stable coins: from electronic money on blockchain to a cryptocurrency basket. ForkLog Consulting (2018). https://forklog.com/pdf/FLC_Stablecoins_report_eng.pdf. Accessed 19 June 2019

  6. Coeuré, B., Loh, J.: Central bank digital currencies. Bank for International Settlements (2018). https://www.bis.org/cpmi/publ/d174.pdf. Accessed 19 June 2019

  7. Dyson, B., Hodgson, G.: Digital cash: why central banks should start issuing electronic money. Positive Money (2016). https://positivemoney.org/wp-content/uploads/2016/01/Digital_Cash_WebPrintReady_20160113.pdf. Accessed 19 June 2019

  8. Hossein, N.: Central bank digital currencies: preliminary legal observations. J. Bank. Regul. (2019). http://dx.doi.org/10.2139/ssrn.3329993. https://ssrn.com/abstract=3329993. Accessed 19 June 2019

  9. Ivantsov, S.V., Sidorenko, E.L., Spasennikov, B.A., Berezkin, Y.M., Sukhodolov, Y.A.: Cryptocurrency-related crimes: key criminological trends. Russ. J. Criminol. 13(1), 85–93 (2019). https://doi.org/10.17150/2500-4255.2019.13(1).85-93. (in Russian)

    Article  Google Scholar 

  10. Kiselev, A.: Does the digital currency of central banks have a future? Analytic note. Bank of Russia (2019). https://www.cbr.ru/content/document/file/71328/analytic_note_190418_dip.pdf. Accessed 19 June 2019. (in Russian)

  11. LH-CRYPTO: The basics of crypto trading (2014). https://www.lh-crypto.com/reviews/currencies/tether.html. Accessed 3 June 2019

  12. Micky News: Why new stablecoins are being developed at a rapid rate (2019). https://micky.com.au/why-new-stablecoins-are-being-developed-at-a-rapid-rate/. Accessed 3 June 2019

  13. Pernice, I.G.A., Henningsen, S., Proskalovich, R., Florian, M., Elendner, H., Scheuermann, B.: Monetary stabilization in cryptocurrencies - design approaches and open questions. In: 2019 IEEE Crypto Valley Conference on Blockchain Technology (CVCBT) (2019). https://arxiv.org/pdf/1905.11905.pdf. Accessed 19 June 2019

  14. Samman, G., Masanto, A.: The State of Stablecoins 2019. Hype vs. Reality in the Race for Stable, Global, Digital Money (2019). https://static1.squarespace.com/static/564100e0e4b08c9445a5fc5d/t/5c71e43ef9619ae6c83c30af/1550967911994/The+State+of+Stablecoins+2019_Report+2_20_19.pdf. Accessed 19 June 2019

  15. Sat, D.M., Krylov, G.O., Bezverbnyi, K.E., Kasatkin, A.B., Kornev, I.A.: Investigation of money laundering methods through cryptocurrency. J. Theor. Appl. Inf. Technol. 83(2), 244–254 (2016)

    Google Scholar 

  16. United States of America v. Anthony R. Murgio, et al.: Defendants, Case No. 15-cr-769 (AJN), Memorandum and Order. Southern District of New York, United States District Court (2016). https://www.plainsite.org/dockets/2x5hvau0h/new-york-southern-district-court/usa-v-murgio-et-al/. Accessed 19 June 2019

  17. United States of America v. Robert M. Faiella, a/k/a “BTCKing”, and Charlie Shrem, Defendants, case No. 14-cr-243 (JSR). S.D. New York, United States District Court (2014). http://www.leagle.com/decision/InAdvFDCO150521-000337/U.S.v.Faiella. Accessed 3 June 2019

Download references

Acknowledgements

The research was conducted by the authors with the financial support of the Russian Foundation for Basic Research, Project no. 19-011-20091.

Author information

Authors and Affiliations

  1. Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs, Moscow, Russia

    E. L. Sidorenko

Authors
  1. E. L. Sidorenko
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to E. L. Sidorenko .

Editor information

Editors and Affiliations

  1. Applied Management Department, Samara State University of Economics, Samara, Russia

    Svetlana Igorevna Ashmarina

  2. Institute of Technology and Business, Ceske Budejovice, Czech Republic

    Marek Vochozka

  3. Department of Applied Management, Samara State University of Economics, Samara, Russia

    Valentina Vyacheslavovna Mantulenko

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Switzerland AG

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Sidorenko, E.L. (2020). Stablecoin as a New Financial Instrument. In: Ashmarina, S., Vochozka, M., Mantulenko, V. (eds) Digital Age: Chances, Challenges and Future. ISCDTE 2019. Lecture Notes in Networks and Systems, vol 84. Springer, Cham. https://doi.org/10.1007/978-3-030-27015-5_75

Download citation

  • DOI: https://doi.org/10.1007/978-3-030-27015-5_75

  • Published:

  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-030-27014-8

  • Online ISBN: 978-3-030-27015-5

  • eBook Packages: EngineeringEngineering (R0)

Publish with us

Policies and ethics

Search

Navigation