The Block is Hot: A Survey of the State of Bitcoin Regulation and Suggestions for the Future

Abstract

Bitcoin and Blockchain technology pose a number of novel regulatory and legal issues. This note examines how government agencies and courts have attempted to keep society safe for — and sometimes from — Bitcoin and Blockchain users (with consumers and investors on one end and drug dealers, terrorists, and violent criminals on the other). This note concludes with policy suggestions for changes to disclosure requirements and tax classifications to facilitate the broader adoption of Bitcoin as a currency by the general public.