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The Dawn of Crypto Assets: A Comet or a New Universe?

Treats and Opportunities of the Upcoming Stars of the Financial Market

Maria Vittoria Marafatto    Università Ca' Foscari Venezia, Italia    



The aim of this elaborate is to analyse the main features of crypto assets, highlighting both the benefits and drawbacks, paying particular attention to crypto securities. Starting from an overview of these financial instruments, it focuses more specifically on different categories of tokens. Once outlined the classification boundaries, the paper narrows the key opportunities and major threats of the market presented by the literature available on the object. Starting from Security Token Offering, it delineates the steps and the entities involved throughout the life of these new instruments.  Towards the end, all the features are compared to attempt to understand whether they are going to remain on the market.

Dec. 21, 2020
Jan. 16, 2022

Keywords: crypto-assets, EU Regulation, MICAR, MiFID

Copyright: © 2020 Maria Vittoria Marafatto. This is an open-access work distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction is permitted, provided that the original author(s) and the copyright owner(s) are credited and that the original publication is cited, in accordance with accepted academic practice. The license allows for commercial use. No use, distribution or reproduction is permitted which does not comply with these terms.