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Entities like centralized cryptocurrency exchanges fall under the business category of virtual asset service providers (VASPs). As any other enterprise, they can become insolvent. VASPs enable the exchange, custody, and transfer of cryptoassets organized in wallets across distributed ledger...

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The aggregate implications of size dependent distortions

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across firms and hence reduce aggregate productivity. It then considers a case-study of labor laws in France where firms that … have 50 employees or more face substantially more regulation than firms that have less than 50. The size distribution of … developed with a payroll tax of 0.15% that only applies to firm above 50 employees. Removing the regulation improves labor …

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