Class exercise: Re-write the "Proposal for regulatory actions for crypto assets"

sarb-crypto-regs-execise.md

Class exercise

Background

The South African Reserve Bank (SARB) recently released a proposed set of regulations for cryptocurrencies:

• paper
• google doc with extracted section 8
• google form to collect responses
• press release
• 2014 paper

Exercise

Individually, or in groups, for section 8, everyone must:

take a proposed clause and suggest a rewrite

this can be framed in the desired format regulatory economists understand (1), specifically:

1. describe policy/regulatory problem
2. unpack economic use case
3. provide an actor-network diagram
4. take a policy stance

It doesn't matter if multiple groups do the same clause, however it would be ideal if everyone's submission was a different clause with only some overlaps in terms of policy stance.

You can argue in support of a clause, or for an amendment.

You have X days to complete the exercise and submit to class, following which the class as a whole will evaluate everyone's rewrites and produce an updated proposed set of regulations taking into consideration all valid submissions which pass examination.

Bonus

There is some local research into regulation in the space:

• Mitigating the associated risks in the unregulated use of crypto-currencies in South Africa through an effective legal framework
• Merging Actor-Network Theory with Network Graph Theory for the purposes of Regulatory engagement