No. 38 - Making it through the (crypto) winter: facts, figures and policy issues

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by Guerino Ardizzi, Marco Bevilacqua, Emanuela Cerrato and Alberto Di IorioJune 2023

The prices of crypto-assets have risen very steeply in recent years, attracting the interest of retail and institutional investors. More recently, the market has experienced a sharp decline in prices, also influenced by idiosyncratic events and tighter global financial conditions. Starting from the main events that unfolded in the crypto-asset market in 2022, this paper examines the challenges regulation faces, as well as the drivers of the most recent regulatory developments, and then highlights the remaining open issues.

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