Regulators face trade-off when it comes to bitcoin

- Central Banking Newsdesk
- 17 Jul 2026

Effective regulations can reduce disparities in the price of bitcoin but leave jurisdictions increasingly vulnerable to potential shocks resulting from problems in the crypto markets, research from the Banque de France has found.

The working paper by Mathilde Dufouleur, published on July 10, examines the effects on local bitcoin markets of regulations that have been enforced, rather than merely announced, since 2009.

It claims bitcoin does not follow the ‘law of one price’, which stipulates that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions

You are currently unable to print this content. Please contact info@centralbanking.com to find out more.

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@centralbanking.com

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@centralbanking.com