DOCSLIB.ORG

June 21, 2014 (Pages 3739-3914)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
June 21, 2014 (Pages 3739-3914) Pennsylvania Bulletin Volume 44 (2014) Repository 6-21-2014 June 21, 2014 (Pages 3739-3914) Pennsylvania Legislative Reference Bureau Follow this and additional works at: https://digitalcommons.law.villanova.edu/pabulletin_2014 Recommended Citation Pennsylvania Legislative Reference Bureau, "June 21, 2014 (Pages 3739-3914)" (2014). Volume 44 (2014). 25. https://digitalcommons.law.villanova.edu/pabulletin_2014/25 This June is brought to you for free and open access by the Pennsylvania Bulletin Repository at Villanova University Charles Widger School of Law Digital Repository. It has been accepted for inclusion in Volume 44 (2014) by an authorized administrator of Villanova University Charles Widger School of Law Digital Repository. Volume 44 Number 25 Saturday, June 21, 2014 • Harrisburg, PA Pages 3739—3914 Agencies in this issue The Courts Department of Banking and Securities Department of Community and Economic Development Department of Education Department of Environmental Protection Department of Health Department of Public Welfare Independent Regulatory Review Commission Insurance Department Legislative Reference Bureau Pennsylvania Public Utility Commission Philadelphia Parking Authority State Charter School Appeal Board State Employees’ Retirement Board State Ethics Commission State Real Estate Commission Detailed list of contents appears inside. Latest Pennsylvania Code Reporter (Master Transmittal Sheet): Pennsylvania Bulletin Pennsylvania No. 475, June 2014 TYPE OR PRINT LEGIBLY Attn: 800 Church Rd. W. 17055-3198 PA Mechanicsburg, FRY COMMUNICATIONS, INC. COMMUNICATIONS, FRY CUT ON DOTTED LINES AND ENCLOSE IN AN ENVELOPE CHANGE NOTICE/NEW SUBSCRIPTION If information on mailing label is incorrect, please email changes to [email protected] or mail to: mail or [email protected] to changes email please incorrect, is label mailing on information If (City) (State) (Zip Code) label) mailing on name above number digit (6 NUMBER CUSTOMER NAME INDIVIDUAL OF NAME—TITLE OFFICE ADDRESS (Number and Street) (City) (State) (Zip The Pennsylvania Bulletin is published weekly by Fry PENNSYLVANIA Communications, Inc. for the Commonwealth of Pennsylva- BULLETIN nia, Legislative Reference Bureau, 641 Main Capitol Build- (ISSN 0162-2137) ing, Harrisburg, Pennsylvania 17120, under the policy supervision and direction of the Joint Committee on Docu- ments under 4 Pa.C.S. Part II (relating to publication and effectiveness of Commonwealth documents). The subscrip- tion rate is $82.00 per year, postpaid to points in the United States. Individual copies are $2.50. Checks for subscriptions and individual copies should be made payable to ‘‘Fry Communications, Inc.’’ Periodicals postage paid at Harrisburg, Pennsylvania. Postmaster send address changes to: Orders for subscriptions and other circulation matters FRY COMMUNICATIONS, Inc. should be sent to: Attn: Pennsylvania Bulletin 800 West Church Road Fry Communications, Inc. Attn: Pennsylvania Bulletin Mechanicsburg, Pennsylvania 17055-3198 800 West Church Road (717) 766-0211 ext. 2340 Mechanicsburg, Pennsylvania 17055-3198 (800) 334-1429 ext. 2340 (toll free, out-of-State) (800) 524-3232 ext. 2340 (toll free, in State) Copyright ௠ 2014 Commonwealth of Pennsylvania Editorial preparation, composition, printing and distribution of the Pennsylvania Bulletin is effected on behalf of the Commonwealth of Pennsylvania by FRY COMMUNICATIONS, Inc., 800 West Church Road, Mechanicsburg, Pennsylva- nia 17055-3198. 3741 CONTENTS THE COURTS INDEPENDENT REGULATORY REVIEW COMMISSION LOCAL COURT RULES Notices Lehigh County Notice of filing of final rulemakings ................3823 Adoption of criminal rules 101.1, 103.1, 531.2 and 536.1 relating to bail; AD 3-2014.................3759 INSURANCE DEPARTMENT PHILADELPHIA RULES Notices Adoption, amendment and rescission of various Proposed acquisition of control of OneBeacon Insur- Philadelphia criminal rules; president judge gen- ance Company, Potomac Insurance Company, eral court regulation no. 2014-3..................3747 OneBeacon America Insurance Company and the Employers’ Fire Insurance Company by Trebuchet US Holdings, Inc.; public informational EXECUTIVE AND INDEPENDENT hearing ........................................3824 Title Insurance Rating Bureau of Pennsylvania, AGENCIES Inc.; proposed rate and revised rule for a closing DEPARTMENT OF BANKING AND SECURITIES service letter; rate filing.........................3824 Notices United Teacher Associates Insurance Company; pro- Actions on applications............................3773 posed rate increase for several LTC forms; rate filing...........................................3824 DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT LEGISLATIVE REFERENCE BUREAU Notices Notices Pennsylvania Housing Advisory Committee and Documents filed but not published .................3825 Interagency Council on Homelessness meeting ....3774 PENNSYLVANIA PUBLIC UTILITY COMMISSION DEPARTMENT OF EDUCATION Notices Notices Extend service territory ...........................3825 Application by Hussian School of Art, Inc. to amend Petition of Citizens’ Electric Company of Lewisburg, articles of incorporation .........................3774 Application by Keystone College to amend articles PA and Wellsboro Electric Company..............3825 of incorporation.................................3774 Service of notice of motor carrier applications.......3826 Telecommunications (5 documents) ......3826, 3827, 3828 DEPARTMENT OF ENVIRONMENTAL PROTECTION Notices PHILADELPHIA PARKING AUTHORITY Applications, actions and special notices............3775 Rules and Regulations Bid opportunity (2 documents) .....................3818 Impoundment of vehicles and equipment ...........3764 Recycling grant awards under the Municipal Waste Planning, Recycling and Waste Reduction Act of Notices 1988, Act 101; corrected award amounts..........3818 Motor carrier application for luxury limousine ser- DEPARTMENT OF HEALTH vice in the City of Philadelphia ..................3828 Notices STATE CHARTER SCHOOL APPEAL BOARD Applications for exception: Notices Divine Providence Hospital; correction ...........3819 Schedule of meetings..............................3828 Gnaden Huetten Memorial Hospital..............3819 Riddle Hospital .................................3820 STATE EMPLOYEES’ RETIREMENT BOARD Long-term care nursing facilities; request for excep- Notices tion ............................................3820 Hearing scheduled ................................3828 DEPARTMENT OF PUBLIC WELFARE STATE ETHICS COMMISSION Notices Availability of the Low-Income Home Energy Assist- Notices ance Program; proposed State Plan and public Gaming Act list...................................3829 hearing schedule................................3821 Payments to nonpublic and county nursing facil- STATE REAL ESTATE COMMISSION ities; proposed rates for State fiscal year 2014- Notices 2015 ...........................................3821 Bureau of Professional and Occupational Affairs v. Social security number exemption..................3823 Luene R. Kirk; doc. no. 0245-56-2012; file no. 09-56-10482 ....................................3913 Available Online at http://www.pabulletin.com PENNSYLVANIA BULLETIN, VOL. 44, NO. 25, JUNE 21, 2014 3742 READER’S GUIDE TO THE PENNSYLVANIA BULLETIN AND THE PENNSYLVANIA CODE Pennsylvania Bulletin wishes to adopt changes to the Notice of Proposed The Pennsylvania Bulletin is the official gazette of Rulemaking to enlarge the scope, it must repropose. the Commonwealth of Pennsylvania. It is published Citation to the Pennsylvania Bulletin every week and includes a table of contents. A Cite material in the Pennsylvania Bulletin by cumulative subject matter index is published quar- volume number, a page number and date. Example: terly. Volume 1, Pennsylvania Bulletin, page 801, January The Pennsylvania Bulletin serves several pur- 9, 1971 (short form: 1 Pa.B. 801 (January 9, 1971)). poses. First, it is the temporary supplement to the Pennsylvania Code, which is the official codification Pennsylvania Code of agency rules and regulations and other statuto- The Pennsylvania Code is the official codification rily authorized documents. Changes in the codified of rules and regulations issued by Commonwealth text, whether by adoption, amendment, repeal or agencies and other statutorily authorized docu- emergency action must be published in the Pennsyl- ments. The Pennsylvania Bulletin is the temporary vania Bulletin. Further, agencies proposing changes supplement to the Pennsylvania Code, printing to the codified text do so in the Pennsylvania changes as soon as they occur. These changes are Bulletin. then permanently codified by the Pennsylvania Second, the Pennsylvania Bulletin also publishes: Code Reporter, a monthly, loose-leaf supplement. Governor’s Executive Orders; State Contract No- The Pennsylvania Code is cited by title number tices; Summaries of Enacted Statutes; Statewide and section number. Example: Title 10 Pennsylva- and Local Court Rules; Attorney General Opinions; nia Code, § 1.1 (short form: 10 Pa. Code § 1.1). Motor Carrier Applications before the Pennsylvania Public Utility Commission; Applications and Actions Under the Pennsylvania Code codification system, before the Department of Environmental Protection; each regulation is assigned a unique number by Orders of the Independent Regulatory Review Com- title and section. Titles roughly parallel the organi- mission; and other documents authorized by law. zation of Commonwealth government.
Load more

Recommended publications
  • Understanding the Motivations, Challenges and Needs of Blockchain Software Developers: a Survey
    Empirical Software Engineering manuscript No. (will be inserted by the editor) Understanding the Motivations, Challenges and Needs of Blockchain Software Developers: A Survey Amiangshu Bosu · Anindya Iqbal · Rifat Shahriyar · Partha Chakroborty Received: November 6, 2018 / Accepted: March 19, 2019 Abstract The blockchain technology has potential applications in various areas such as smart-contracts, Internet of Things (IoT), land registry, supply chain man- agement, storing medical data, and identity management. Although the Github currently hosts more than six thousand active Blockchain software (BCS) projects, few software engineering research has investigated these projects and its' contrib- utors. Although the number of BCS projects is growing rapidly, the motivations, challenges, and needs of BCS developers remain a puzzle. Therefore, the primary objective of this study is to understand the motivations, challenges, and needs of BCS developers and analyze the differences between BCS and non-BCS development. On this goal, we sent an online survey to 1,604 active BCS developers identified via mining the Github repositories of 145 popular BCS projects. The survey received 156 responses that met our criteria for analysis. The results suggest that the majority of the BCS developers are experienced in non-BCS development and are primarily motivated by the ideology of creating a decentralized financial system. Although most of the BCS projects are Open Source Software (OSS) projects by nature, more than 93% of our respondents found BCS development somewhat different from a non-BCS development as BCS projects have higher emphasis on security and reliability than most of the non- BCS projects. Other differences include: higher costs of defects, decentralized and hostile environment, technological complexity, and difficulty in upgrading the soft- ware after release.
    [Show full text]
  • A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets
    Journal of Risk and Financial Management Review A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets Nikolaos A. Kyriazis Department of Economics, University of Thessaly, 38333 Volos, Greece; [email protected] Abstract: This study is an integrated survey of GARCH methodologies applications on 67 empirical papers that focus on cryptocurrencies. More sophisticated GARCH models are found to better explain the fluctuations in the volatility of cryptocurrencies. The main characteristics and the optimal approaches for modeling returns and volatility of cryptocurrencies are under scrutiny. Moreover, emphasis is placed on interconnectedness and hedging and/or diversifying abilities, measurement of profit-making and risk, efficiency and herding behavior. This leads to fruitful results and sheds light on a broad spectrum of aspects. In-depth analysis is provided of the speculative character of digital currencies and the possibility of improvement of the risk–return trade-off in investors’ portfolios. Overall, it is found that the inclusion of Bitcoin in portfolios with conventional assets could significantly improve the risk–return trade-off of investors’ decisions. Results on whether Bitcoin resembles gold are split. The same is true about whether Bitcoins volatility presents larger reactions to positive or negative shocks. Cryptocurrency markets are found not to be efficient. This study provides a roadmap for researchers and investors as well as authorities. Keywords: decentralized cryptocurrency; Bitcoin; survey; volatility modelling Citation: Kyriazis, Nikolaos A. 2021. A Survey on Volatility Fluctuations in the Decentralized Cryptocurrency Financial Assets. Journal of Risk and 1. Introduction Financial Management 14: 293. The continuing evolution of cryptocurrency markets and exchanges during the last few https://doi.org/10.3390/jrfm years has aroused sparkling interest amid academic researchers, monetary policymakers, 14070293 regulators, investors and the financial press.
    [Show full text]
  • Cuba: Issues for the 111Th Congress
    Cuba: Issues for the 111th Congress Mark P. Sullivan Specialist in Latin American Affairs September 3, 2010 Congressional Research Service 7-5700 www.crs.gov R40193 CRS Report for Congress Prepared for Members and Committees of Congress Cuba: Issues for the 111th Congress Summary Cuba remains a hard-line communist state with a poor record on human rights. The country’s political succession in 2006 from the long-ruling Fidel Castro to his brother Raúl was characterized by a remarkable degree of stability. The government of Raúl Castro has implemented limited economic policy changes, but there has been disappointment that further reforms have not been forthcoming. The economy was hard hit by storms in 2008, and the global financial crisis has caused further strains. Few observers expect the government to ease its tight control over the political system, although it did agree in July 2010 to release 52 political prisoners after talks with the Cuban Catholic Church. Since the early 1960s, U.S. policy has consisted largely of isolating Cuba through economic sanctions. A second policy component has consisted of support measures for the Cuban people, including U.S.-sponsored broadcasting and support for human rights activists. In light of Fidel Castro’s departure as head of government, many observers have called for a re-examination of policy with two broad approaches advanced: an approach that would maintain the dual-track policy of isolating the Cuban government while providing support to the Cuban people; and an approach aimed at changing attitudes in the Cuban government and society through increased engagement.
    [Show full text]
  • Blockchain and The
    NOTES ACKNOWLEDGMENTS INDEX Notes Introduction 1. The manifesto dates back to 1988. See Timothy May, “The Crypto Anarchist Manifesto” (1992), https:// www . activism . net / cypherpunk / crypto - anarchy . html. 2. Ibid. 3. Ibid. 4. Ibid. 5. Ibid. 6. Timothy May, “Crypto Anarchy and Virtual Communities” (1994), http:// groups . csail . mit . edu / mac / classes / 6 . 805 / articles / crypto / cypherpunks / may - virtual - comm . html. 7. Ibid. 8. For example, as we wi ll describe in more detail in Chapter 1, the Bitcoin blockchain is currently stored on over 6,000 computers in eighty- nine jurisdictions. See “Global Bitcoin Node Distribution,” Bitnodes, 21 . co, https:// bitnodes . 21 . co / . Another large blockchain- based network, Ethereum, has over 12,000 nodes, also scattered across the globe. See Ethernodes, https:// www . ethernodes . org / network / 1. 9. See note 8. 10. Some blockchains are not publicly accessible (for more on this, see Chapter 1). These blockchains are referred to as “private blockchains” and are not the focus of this book. 11. See Chapter 1. 12. The Eu ro pean Securities and Market Authority, “Discussion Paper: The Dis- tributed Ledger Technology Applied to Securities Markets,” ESMA / 2016 / 773, June 2, 2016: at 17, https:// www . esma . europa . eu / sites / default / files / library / 2016 - 773 _ dp _ dlt . pdf. 213 214 NOTES TO PAGES 5–13 13. The phenomena of order without law also has been described in other con- texts, most notably by Robert Ellickson in his seminal work Order without Law (Cambridge, MA: Harvard University Press, 1994). 14. Joel Reidenberg has used the term “lex informatica” to describe rules imple- mented by centralized operators online.
    [Show full text]
  • List of Cryptoassets That Can Be Legally Traded in Indonesia
    List of Cryptoassets That Can Be Legally Traded in Indonesia Approved cryptoassets under Bappebti Regulation No. 7 of 2020 regarding the Stipulation of the List of Cryptoassets that Are Allowed to Be Traded in the Cryptoasset Physical Market. 1. Bitcoin 81. Verge 161. Storm 2. Ethereum 82. Pax gold 162. Vertcoin 3. Tether 83. Matic network 163. Ttc 4. Xrp/ripple 84. Kava 164. Metadium 5. Bitcoin cash 85. Komodo 165. Pumapay 6. Binance coin 86. Steem 166. Nav coin 7. Polkadot 87. Aelf 167. Dmarket 8. Chainlink 88. Fantom 168. Spendcoin 9. Lightcoin 89. Horizen 169. Tael 10. Bitcoin sv 90. Ardor 170. Burst 11. Litecoin 91. Hive 171. Gifto 12. Crypto.com coin 92. Enigma 172. Sentinel protocol 13. Usd coin 93. V. Systems 173. Quantum resistant ledger 14. Eos 94. Z coin 174. Digix gold token 15. Tron 95. Wax 175. Blocknet 16. Cardano 96. Stratis 176. District0x 17. Tezos 97. Ankr 177. Propy 18. Stellar 98. Ark 178. Eminer 19. Neo 99. Syscoin 179. Ost 20. Nem 100. Power ledger 180. Steamdollar 21. Cosmos 101. Stasis euro 181. Particl 22. Wrapped bitcoin 102. Harmony 182. Data 23. Iota 103. Pundi x 183. Sirinlabs 24. Vechain 104. Solve.care 184. Tokenomy 25. Dash 105. Gxchain 185. Digitalnote 26. Ehtereum classic 106. Coti 186. Abyss token 27. Yearn.finance 107. Origin protokol 187. Cake 28. Theta 108. Xinfin network 188. Veriblock 29. Binance usd 109. Btu protocol 189. Hydro 30. Omg network 110. Dad 190. Viberate 31. Maker 111. Orion protocol 191. Rupiahtoken 32. Ontology 112. Cortex 192.
    [Show full text]
  • A Decentralized Digital Content Marketplace
    LBRY: A Decentralized Digital Content Marketplace Alex Grintsvayg ([email protected]), Jeremy Kauman ([email protected]) Introduction LBRY is a protocol for accessing and publishing digital content in a global, decentralized marketplace. LBRY uses a public blockchain to provide a single shared index of published content, as well as content discovery and payment. Clients can use LBRY to publish, host, find, download, and pay for content — books, movies, music, or anything else that can be represented as a stream of bits. The protocol is permissionless and censorship-resistant, which means that participation is open to everyone and no one can unilaterally block or remove content. Before LBRY, publishers had to choose between a centralized host such as Amazon or Youtube, or a protocol like Bittorrent. Centralized platforms suer from several problems because their incentives are not aligned with the incentives of their users. Hosts engage in rent-seeking behavior, oen extracting 30-55% of creator profits. They enforce opaque and arbitrary rules on creators, and change those rules without warning or community input. They choose to censor content at the behest of repressive regimes around the world, in exchange for access to more users and higher profits for themselves. Bittorrent does not have these faults, but it has problems of its own. It is only useful if one already knows the infohash of the content they seek, and there is no way to discover these hashes within the protocol. Even using an external search engine does not provide a comprehensive list of what is available on the network. There are no incentives for users to seed content, and Bittorrent largely works because users earn status through private communities, are nice, or simply fail to understand what their client is doing.
    [Show full text]
  • The Rise and Fall of Cryptocurrencies
    The Rise and Fall of Cryptocurrencies Amir Feder∗ Neil Gandal Berglas School of Economics Berglas School of Economics Tel Aviv University, Israel Tel Aviv University, Israel [email protected] [email protected] JT Hamrick Tyler Moore Tandy School of Computer Science Tandy School of Computer Science The University of Tulsa, USA The University of Tulsa, USA [email protected] [email protected] Marie Vasek Department of Computer Science University of New Mexico, USA [email protected] July 30, 2018 Abstract Since Bitcoin's introduction in 2009, interest in cryptocurrencies has soared. One manifestation of this interest has been the explosion of newly created coins. This paper examines the dynamics of coin creation, competition and destruction in the cryptocurrency industry. In order to conduct the analysis, we develop a methodology to identify peaks in prices and trade volume, as well as when coins are abandoned and subsequently \resurrected". We study trading activity associated with 1 082 coins over a nearly five-year period. We present evidence that the more frequently traded coins experience the biggest price rises. They are also much less likely to be abandoned, that is, to experience a drop in average trading volume to below 1% of a prior peak value. Overall, we find that 44% of publicly-traded coins are abandoned, at least temporarily. 71% of abandoned coins are later resurrected, leaving 18% of coins to fail permanently. We then examine the association between entry and exit and other key variables such as price, volume, and market capitalization in order to analyze and provide intuition underpinning the fundamentals in this market.
    [Show full text]
  • Cuba: Issues for the 110Th Congress
    Order Code RL33819 Cuba: Issues for the 110th Congress Updated September 24, 2008 Mark P. Sullivan Specialist in Latin American Affairs Foreign Affairs, Defense, and Trade Division Cuba: Issues for the 110th Congress Summary Since the early 1960s, U.S. policy toward Cuba has consisted largely of isolating the communist nation through economic sanctions, which the Bush Administration has tightened significantly. A second policy component has consisted of support measures for the Cuban people, including private humanitarian donations and U.S.-sponsored radio and television broadcasting to Cuba. As in past years, the main issue for U.S. policy toward Cuba in the 110th Congress has been how to best support political and economic change in one of the world’s remaining communist nations. Unlike past years, however, Congress is examining policy toward Cuba in the context of Fidel Castro’s departure from heading the government because of poor health. Raúl Castro, who had served as provision head of government since July 2006, was selected on February 24, 2008 by Cuba’s legislature to continue in that role officially. In the 110th Congress, Congress fully funded the Administration’s FY2008 request for $45.7 million for Cuba democracy programs in the Consolidated Appropriations Act for FY2008 (P.L. 110-161). In other action, on July 27, 2007, the House rejected H.Amdt. 707 to H.R. 2419, the 2007 farm bill, that would have facilitated the export of U.S. agricultural exports to Cuba. On May 21, 2008, the Senate approved S.Res. 573, recognizing the struggle of the Cuban people.
    [Show full text]
  • Building Resilience & Confronting Risk
    BUILDING RESILIENCE & CONFRONTING RISK A PARENTS & CAREGIVERS GUIDE TO ONLINE RADICALIZATION POLARIZATION AND EXTREMISM RESEARCH AND INNOVATION LAB (PERIL) PERIL brings the resources and expertise of the university sector to bear on the problem of growing youth polarization and extremist radicalization, through scalable research, intervention, and public education ideas to reduce rising polarization and hate. SOUTHERN POVERTY LAW CENTER The SPLC seeks to be a catalyst for racial justice in the South and beyond, working in partnership with communities to dismantle white supremacy, strengthen intersectional movements, and advance the human rights of all people. CONTENTS PARENTS & CAREGIVERS GUIDE 3 WHAT IS ONLINE RADICALIZATION? WHY SHOULD YOU CARE? 4 RECOGNIZING WARNING SIGNS 5 UNDERSTANDING THE DRIVERS 6 ENGAGE & EMPOWER 8 RESPONDING TO HATE 10 HOW TO GET HELP 11 APPENDIX: STAYING ALERT TO SITES, PLATFORMS, & APPS FREQUENTLY EXPLOITED BY EXTREMISTS 15 ENDNOTES 16 CREDITS 17 ILLUSTRATIONS BY CLAUDIA WHITAKER Whether you live with a young person, or now work virtually with youth, radicalization to extremism is something we all should be concerned about. Extremists looking to recruit and convert children are predatory. Like all forms of child exploitation, extremist recruitment drives a wedge between young people and the adults they would typically trust. Radicalization is a problem for our entire society, from the innocent people it victimizes to the family bonds it breaks apart. 2 A PARENTS AND CAREGIVERS GUIDE TO ONLINE RADICALIZATION PARENTS & CAREGIVERS GUIDE Who is this guide for? We wrote this guide with a wide range Whether you live with a young person or work with youth of caregivers in mind.
    [Show full text]
  • Alternative Assets and Cryptocurrencies
    Journal of Alternative Assets and Cryptocurrencies Edited by Christian Hafner Printed Edition of the Special Issue Published in Journal of Risk and Financial Management www.mdpi.com/journal/jrfm Alternative Assets and Cryptocurrencies Alternative Assets and Cryptocurrencies Special Issue Editor Christian Hafner MDPI • Basel • Beijing • Wuhan • Barcelona • Belgrade Special Issue Editor Christian Hafner Universite´ catholique de Louvain Belgium Editorial Office MDPI St. Alban-Anlage 66 4052 Basel, Switzerland This is a reprint of articles from the Special Issue published online in the open access journal Journal of Risk and Financial Management (ISSN 1911-8074) from 2017 to 2018 (available at: https:// www.mdpi.com/journal/jrfm/special issues/alternative assets and cryptocurrencies) For citation purposes, cite each article independently as indicated on the article page online and as indicated below: LastName, A.A.; LastName, B.B.; LastName, C.C. Article Title. Journal Name Year, Article Number, Page Range. ISBN 978-3-03897-978-4 (Pbk) ISBN 978-3-03897-979-1 (PDF) c 2019 by the authors. Articles in this book are Open Access and distributed under the Creative Commons Attribution (CC BY) license, which allows users to download, copy and build upon published articles, as long as the author and publisher are properly credited, which ensures maximum dissemination and a wider impact of our publications. The book as a whole is distributed by MDPI under the terms and conditions of the Creative Commons license CC BY-NC-ND. Contents About the Special Issue Editor ...................................... vii Preface to ”Alternative Assets and Cryptocurrencies” ........................ ix Christian Conrad, Anessa Custovic and Eric Ghysels Long- and Short-Term Cryptocurrency Volatility Components: A GARCH-MIDAS Analysis Reprinted from: J.
    [Show full text]
  • The University of Tulsa the Graduate School Price
    THEUNIVERSITYOFTULSA THE GRADUATE SCHOOL PRICE MANIPULATION IN THE CRYPTOCURRENCY ECOSYSTEM by JT Hamrick A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Philosophy in the Discipline of Computer Science The Graduate School The University of Tulsa 2020 THEUNIVERSITYOFTULSA THE GRADUATE SCHOOL PRICE MANIPULATION IN THE CRYPTOCURRENCY ECOSYSTEM by JT Hamrick A DISSERTATION APPROVED FOR THE DISCIPLINE OF COMPUTER SCIENCE By Dissertation Committee Tyler Moore, Chair Mauricio Papa John Hale Neil Gandal Nicolas Christin ii ABSTRACT JT Hamrick (Doctor of Philosophy in Computer Science) PRICE MANIPULATION IN THE CRYPTOCURRENCY ECOSYSTEM Directed by Tyler Moore 164 pp., Chapter 10: Conclusions (355 words) In the recent past the cryptocurrency ecosystem has seen explosive growth. What was once a small market, made popular with the introduction of Bitcoin in 2009, has now grown to a pseudo-financial system with a market capitalization of over 230 billion USD. Many of the cryptocurrencies available have been built with security in mind, utilizing a public ledger as well as safe-guards against counterfeiting. One might be led to believe that the public nature of cryptocurrencies would make them an infrequent target for criminal activity. However, that is not entirely the case. Many of the services utilized by the cryptocurrency ecosystem are centralized utilities that store transactions in databases that, while partially made public through data endpoints, are not attached to the blockchain. This dissertation leverages public data, typically through off-chain utilities, to study cybercriminal activities. First, the impact that distributed denial-of-services attacks have on the Bitcoin ecosystem was investigated by examining trading activity on the Mt.
    [Show full text]
  • Much Ado About Defi
    Much Ado About DeFi August 13, 2021 Given that the charged entity’s name included “DeFi,” Authors/Presenters there was an inevitable flurry of news around last week’s SEC action against DeFi Money Market (“DMM”), including that it was the “first” enforcement action involving Decentralized Finance or DeFi. However, below are a few J. Ashley Ebersole observations that, to our minds, make the DMM action less remarkable than its billing. Partner Washington [email protected] Kwabena A. Yeboah Associate Washington [email protected] Page 1 of 4 1. In terms of violating Securities Act Section 5 through unregistered offerings, the March 2021 SEC Complaint against LBRY, Inc. was the first to concern a decentralized platform and its unregistered offering of an associated token. The still-unresolved LBRY action rests on the SEC’s conclusion that the LBRY platform was not truly as decentralized as was claimed, and the LBRY tokens it sold were thus unregistered securities. Rather than functioning autonomously and in distributed fashion, the SEC alleged: (i) the platform and its participants substantially relied on LBRY, Inc.’s managerial and operational control; (ii) LBRY, Inc.’s role involved controlling the supply of LBRY tokens to promote token price stability; and (iii) LBRY, Inc. had sole authority over the LBRY software code and the network’s functionality and expansion, including the allocation of capital raised in token sales. Some of these remaining vestiges of issuer control and participation were fairly intuitive as being hallmarks of persistent “security” status, but the SEC’s approach to analyzing decentralization in the Complaint provided a useful guide nonetheless.
    [Show full text]