@inbook{288a954b01ab4b04b49c9025edf00a88,
title = "Market structure of cryptocurrencies",
abstract = "Cryptocurrencies are an electronic medium of exchange that can be traded by different trading groups via digital currency exchanges. A growing list of altcoins has seen a proliferation of cryptocurrency exchanges emerge over the last decade as regulations in many countries around the world struggle to comprehend with appropriate investor protection rules. Although there is no central authority to register these exchanges, it is estimated that there are currently up to five hundred exchanges in circulation, characterised by varying platforms, geographical reach, and compliance with regulatory frameworks. Cryptocurrency markets share many similar characteristics with both foreign exchange and equity markets such as limit order books and matching algorithms, and exchanges that can be both centralised or decentralised. As these markets are still in their infancy, what shape or form they will take in future will depend on a combination of acceptance from consumers, the investment community, as well as worldwide regulators.",
author = "Jiri Svec and Sean Foley and Angelo Aspris",
year = "2020",
doi = "10.1515/9783110660807-006",
language = "English",
isbn = "9783110659436",
series = "Batten-Corbet-Lucey Handbooks in Alternative Investments",
publisher = "De Gruyter",
pages = "97–112",
editor = "Shaen Corbet and Andrew Urquhart and Larisa Yarovaya",
booktitle = "Cryptocurrency and blockchain technology",
address = "Germany",
}