Micheler, Eva 
ORCID: 0000-0002-7922-2436
(2015)
Custody chains and asset values: why crypto-securities are worth contemplating.
Cambridge Law Journal, 74 (3).
pp. 505-533.
ISSN 0008-1973
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Abstract
Computerisation facilitates instantaneous and direct links between all of us in our work and social lives. At the same time, and counterintuitively so, securities are increasingly held indirectly through chains of custodians that operate between issuers and investors. This disconnects investors from issuers and can significantly reduce the value of assets. The regulatory framework does not prevent this effect. UK regulated holders of client securities should be required to hold these directly in the name of the investor. At an international level it is worth asking if the technology underlying bitcoin and other cryptocurrencies can be used to create an un-intermediated securities ledger connecting investors and issuers directly.
| Item Type: | Article |
|---|---|
| Official URL: | http://journals.cambridge.org/action/displayJourna... |
| Additional Information: | ©2015 The Author |
| Divisions: | Law |
| Subjects: | H Social Sciences > HE Transportation and Communications H Social Sciences > HG Finance K Law > KD England and Wales |
| Date Deposited: | 02 Jul 2015 13:46 |
| Last Modified: | 07 Nov 2024 07:00 |
| URI: | http://eprints.lse.ac.uk/id/eprint/62609 |
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