posted on 2023-05-20, 15:12authored byAllen, JG, Lastra, RM
The Internet has become the site of economically relevant objects, events and actions, as well as the source of potential risks to the financial systems. This article builds on a metaphor of ‘border problems’ in financial regulation, exploring a ‘third border’ between the ‘real world’ and ‘cyberspace’—a virtual domain of human interaction facilitated and conditioned by digital communications systems. Reviewing the ‘cyber-sovereignty’ debate and surveying the divergent approaches now emerging along geo-political faultlines, we argue that sovereign states still have a unique and irreplaceable role in guarding financial stability which must be reflected in the law of Internet jurisdiction: an emerging lex cryptographica financiera. We conclude with a few observations on how this could affect the design of financial regulation in the coming decade.
History
Publication title
Modern Law Review
Volume
83
Pagination
505-538
ISSN
0026-7961
Department/School
Faculty of Law
Publisher
Wiley-Blackwell Publishing Ltd.
Place of publication
UK
Rights statement
Copyright 2020 The Authors
Repository Status
Restricted
Socio-economic Objectives
International political economy (excl. international trade)