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The purpose of this article is to provide techniques for distinguishing and analyzing privileges. With privileges revealed and categorized, the article provides an analysis of the impact different kinds of privileges have on free markets, equality‐under‐the‐law, and environmental sustainability. From this analysis arise recommendations for public policy aimed at improving efficiency and equality‐of‐opportunity in markets while encouraging more environmentally sustainable corporate behavior.

The article calls upon a technique from sociology (“unpacking a knapsack”) to begin this exploration of privilege. It then uses the Harris‐Twomey typology to categorize various kinds of privilege and analyze their impact on free markets, equality‐under‐the‐law, and sustainability. The article uses examples to illustrate the importance of understanding the impact of privileges in developing effective public policy.

It is difficult to distinguish otherwise “invisible” privileges; having methods for identifying and categorizing privileges make them more visible. Second, the illustrative examples and accompanying analysis suggest that reducing the number of privileges granted by the state, especially those that are economically inefficient, will improve performance and equity across an economy. Where privileges are necessary for efficient resource use or market development, the state would improve efficiency and equality by charging fees equal to the opportunity costs borne by others or the cost imposed on others by the privilege‐holder.

Using the techniques of analysis and following guidelines for public policies consistent with the principles explored here would be likely to improve access to and efficiency of free markets (making them more “free”), create a more level playing field (greater equality under the law) and diminish the negative environmental impacts of corporate activity by changing the incentive systems that currently encourage monopolistic tendencies in markets, concentration of power, and transference of environmental costs from corporations to the public.

This paper combines analytic techniques from Sociology, Economics, and Management to gain a fresh perspective on the existence and impact of privileges on markets, society, and the environment. This fresh perspective reconciles tensions between equality and efficiency and provides guidelines for effective public policies.

The purpose of this paper is to show how global regulation of cryptocurrencies and other cybercurrencies can assist in addressing the challenges of attribution when investigating ransomware attacks and other types of cybercrime using these payment methods.

A literature review, looking at current academic research and discourse on the topic cryptocurrency regulation, is conducted to highlight current thinking and perceived difficulties in implanting a global regulatory framework. In addition, the research explores how governments have addressed the risks posed by cryptocurrencies and how regulation has been implemented. The research focuses on the regulatory approaches of Australia, Europe and the Americas to determine whether they could feasibly address the risks posed by cryptocurrencies and be implemented on a global scale.

To date, few sustained efforts have been made to regulate Bitcoin or other cybercurrencies. Where regulation has been introduced, it has often proven too costly to implement, thereby, stifling Bitcoin industry growth, or too ad hoc to function effectively. These regulatory pitfalls are substantiated by the continuing difficulty faced by law enforcement agencies, in identifying individual Bitcoin users and separating those that are using them for nefarious purposes from those that are using them for legitimate ones. These challenges appear to grow exponentially when it comes to prosecuting criminals for Bitcoin-related offences, due to the enormous lack of agreement within the justice system of most countries as to the appropriate legal definition for Bitcoin. This research highlights three characteristics that will be vital to the success of any global regulatory framework. These are consistency, clarity and cost-effective implementation. A regulatory framework for Bitcoin that lacks any one of these elements will fail to meet the requirements of every stakeholder in the regulatory process. A framework that is too costly to implement will stifle fintech innovation, subsequently depriving national economies of the multitude of potential benefits promised by fostering fintech entrepreneurship. Equally, a framework that is inconsistent will hamper the global cooperation necessary to combat Bitcoin-related crime.

This research evaluates research, discourse and regulatory responses from academic and governmental sources and discusses how a global response to cryptocurrency regulation will help address the growing problem of attribution when it comes to ransomware attacks, which has experienced a considerable spike in recent months.