{"id":6287,"date":"2019-05-20T16:21:13","date_gmt":"2019-05-20T20:21:13","guid":{"rendered":"http:\/\/ncjolt.org\/?p=6287"},"modified":"2020-06-04T20:52:25","modified_gmt":"2020-06-04T20:52:25","slug":"blockchain-havens-and-the-need-for-their-internationally-coordinated-regulation","status":"publish","type":"post","link":"https:\/\/journals.law.unc.edu\/ncjolt\/articles\/blockchain-havens-and-the-need-for-their-internationally-coordinated-regulation\/","title":{"rendered":"Blockchain Havens and the Need for Their Internationally-Coordinated Regulation"},"content":{"rendered":"\n<p>This paper describes the rise of a new form of regulatory havens. Jurisdictions that have traditionally been characterized as \u201ctax havens\u201d are gradually becoming hubs for blockchain-based ventures. These jurisdictions attract blockchain entrepreneurs by offering refuge from regulatory and tax burdens imposed by developed economies. These new \u201cBlockchain Havens\u201d create a regulatory \u201crace to the bottom\u201d that is traditionally associated with the world of international tax evasion and avoidance. <\/p>\n\n\n<p>Over the past several years, developed economies have put to use\u2014mostly through coordinated efforts\u2014several regulatory frameworks aimed to address some of the negative effects of tax havens. These regulatory instruments are aimed against the haven jurisdictions themselves, or the private institutions operating in such jurisdictions. However, this paper argues that the unique nature of blockchain-based technology\u2014most importantly, decentralization and temper resistance\u2014makes such traditional anti-tax haven policies ineffective in the blockchain context. <\/p>\n\n\n<p>This paper argues that coordinated international regulatory policies must be quickly developed to address certain important aspects of blockchain technology. Such coordination is necessary to prevent an uncontrolled regulatory race to the bottom, while at the same time preserving the benefits of blockchain-based applications. <\/p>\n\n\n<ul><li>Author:  Omri Marian<\/li><li>Cite: Omri Marian, <em>Blockchain Havens and the Need for Their Internationally-Coordinated Regulation<\/em>, 20 N.C. J.L. &amp; Tech. 529 (2019), \/\/journals.law.unc.edu\\\/ncjolt\/wp-content\/uploads\/sites\/4\/2019\/05\/Marian_Final.pdf.<\/li><li>PDF: <a href=\"\/\/journals.law.unc.edu\\\/ncjolt\/wp-content\/uploads\/sites\/4\/2019\/05\/Marian_Final.pdf\">\/\/journals.law.unc.edu\\\/ncjolt\/wp-content\/uploads\/sites\/4\/2019\/05\/Marian_Final.pdf<\/a><\/li><li>Volume: Volume 20, Issue 4<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This paper describes the rise of a new form of regulatory havens. Jurisdictions that have traditionally been characterized as \u201ctax havens\u201d are gradually becoming hubs for blockchain-based ventures. These jurisdictions attract blockchain entrepreneurs by offering refuge from regulatory and tax burdens imposed by developed economies. These new \u201cBlockchain Havens\u201d create a regulatory \u201crace to the <a href=\"https:\/\/journals.law.unc.edu\/ncjolt\/articles\/blockchain-havens-and-the-need-for-their-internationally-coordinated-regulation\/\" class=\"more-link\">&#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,85,90],"tags":[],"_links":{"self":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts\/6287"}],"collection":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/comments?post=6287"}],"version-history":[{"count":1,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts\/6287\/revisions"}],"predecessor-version":[{"id":6818,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/posts\/6287\/revisions\/6818"}],"wp:attachment":[{"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/media?parent=6287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/categories?post=6287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journals.law.unc.edu\/ncjolt\/wp-json\/wp\/v2\/tags?post=6287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}