The Rise of Cryptocurrency: What Is It and How Should It Be Regulated?
By Christina Martin*
Within the past six months, the price of one Bitcoin has risen 174%, and other cryptocurrencies are experiencing similar increases. Andrew Hallam, Bitcoin Gains 174 Percent in Just Six Months: Should It Be Part of Your Portfolio?, Assetbuilder (June 21, 2017), https://assetbuilder.com/knowledge-center/articles/bitcoin-gains-174-percent-in-just-six-months-should-it-be-part-of-your-portfolio. Until recently, cryptocurrencies have had a reputation as mainly being used for illegal activity on the dark web. See Omri Marian, A Conceptual Framework for the Regulation of Cryptocurrencies, 82 U. Chi. L. Rev. 53, 56–57 (2015). Today, everyone from investors to legislators have begun to take note as cryptocurrencies gain popularity throughout the United States and across the world. See id; see also Hallam, supra.