Evidence map›Paper›PMID 41669665›Full record

ArticleFinancial innovation2026

Digital assets: risks, regulations, mitigation.

Huei-Wen Teng, Wolfgang Karl Härdle, Joerg Osterrieder, Daniel Traian Pele, Lennart John Baals, Vassilios Papavassiliou, Karolina Bolesta, Audrius Kabašinskas, Olivija Filipovska, Nikolaos S Thomaidis and 21 more

Abstract read
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In one paragraph

Article in Financial innovation, 2026. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Not yet cited in PubMed.

0numbers the graph read from it
0cells of the map it votes in
0citing papers in PubMed
–field-weighted citation impact
1 · What the graph read from it

What it found

Each row is one number read from the abstract, on the scale the paper reported it, with its interval. Left of the dashed line favours the treatment, right favours the comparator. Under each row is the sentence it came from. New to these charts? A ten-minute tutorial.

The abstract states no effect estimate the extractor could read, or names no intervention and outcome on the map, so this paper lights no cell and moves no belief. It is still indexed, cited and linked below.

2 · The registry

The trial behind it

Trials whose registry record cites this paper, or whose number appears in the abstract. A trial that started after this paper was published is citing it as background, not reporting it.

Neither the registry nor the abstract names a trial number. If this is a trial report, that itself is worth knowing.

3 · Its place in the literature

Who cites it

0 citing papers in PubMed.

No citing paper in PubMed yet.

4 · The record

Corrections and comments

PubMed lists nothing against this paper. Absence here is not a guarantee, only a check that was made.

5 · Who and what money

Authors and funding

31 authors.

Huei-Wen TengIDA Institute of Digital Assets, Bucharest University of Economic Studies, Bucharest, Romania.ORCID 0000-0002-3651-9934
Wolfgang Karl HärdleBlockchain Research Center, Humboldt-Universität zu Berlin, Berlin, Germany.
Joerg OsterriederInstitute of Applied Data Science and Finance, Bern Business School, Brückenstrasse 73, Bern, Switzerland.
Daniel Traian PeleIDA Institute of Digital Assets, Bucharest University of Economic Studies, Bucharest, Romania.
Lennart John BaalsBern University of Applied Science, Bern, Switzerland.
Vassilios PapavassiliouUniversity College Dublin, UCD Michael Smurfit Graduate Business School and UCD Geary Institute for Public Policy, Carysfort Avenue, Blackrock, Co Dublin Ireland.
Karolina BolestaDepartment of Economics, Warsaw School of Economics, Warsaw, Poland.
Audrius KabašinskasDepartment of Mathematical Modeling, Kaunas University of Technology, Kaunas, Lithuania.
Olivija FilipovskaKomercijalna Banka AD Skopje, Skopje, North Macedonia.
Nikolaos S ThomaidisDepartment of Financial and Management Engineering, University of the Aegean, Chios, Greece.
Alexios-Ioannis MoukasSchool of Economics, Aristotle University of Thessaloniki, Thessaloníki, Greece.
Sam GoundarSchool of Science and Technology, RMIT University, Hanoi, Vietnam.
Jamal Abdul NasirUniversity of Galway, Galway, Ireland.
Abraham Itzhak WeinbergAI-Weinberg, Tel Aviv, Israel.
Veni ArakelianEconomic Research and Investment Strategy, Piraeus Bank, Athens, Greece.
Ciprian-Octavian TruicăUniversity Politehnica of Bucharest, Bucharest, Romania.
Mutlu AkarCollege of Arts and Sciences, Department of Mathematics, Yildiz Technical University, Istanbul, Türkiye.ORCID https://orcid.org/0000-0003-3718-7449
Esra KabaklarlıDepartment of Economics, Seluk University, Konya, Turkey.
Elena-Simona ApostolUniversity Politehnica of Bucharest, Bucharest, Romania.
Maria IannarioUniversity of Naples Federico II, Naples, Italy.
Barbara Bȩdowska-SójkaPoznań University of Economics and Business, Poznan, Poland.
Hanna Kristín SkaftadóttirUniversity of Iceland, Reykjavík, Iceland.
Ozgur YildirimCollege of Arts and Sciences, Department of Mathematics, Yildiz Technical University, Istanbul, Türkiye.
Albulena ShalaUniversity of Prishtina "Hasan Prishtina", Prishtina, Kosova.
Galena PisoniUniversite Cote d'Azur, Biot, France.
Ioana Florina CoitaUniversity of Oradea, Oradea, Romania.
Szabolcs KorbaEötvös Loránd University, Budapest, Hungary.
Christian M HafnerUniversité catholique de Louvain, Louvain-la-Neuve, Belgium.
Peter SchwendnerInstitute of Wealth and Asset Management, Zurich University of Applied Sciences, Winterthur, Switzerland.
Bálint MolnárEötvös Loránd University, Budapest, Hungary.
Elda XhumariTirana University, Tirana, Albania.

Funding

No grant is acknowledged in the PubMed record.

6 · The paper itself

Abstract

Digital assets (DAs) such as cryptocurrencies, tokenized securities, stablecoins, non-fungible tokens (NFTs), and central bank digital currencies, are transforming financial markets with new business models, investment opportunities, and transaction efficiencies. Underpinned by blockchain, distributed ledger technology, and smart contracts, digital innovations are reshaping the financial ecosystem. However, their rapid growth introduces substantial risks, including fraud, market manipulation, cybersecurity threats, and regulatory uncertainty. This position paper offers an interdisciplinary and empirically grounded analysis of the DA landscape. We define and classify major asset types, trace their evolution from speculative instruments to functional tools, and assess current adoption trends. Additional technological developments (e.g., decentralized finance and NFT expansion) are examined for their role in accelerating this transformation. We also analyze the global regulatory landscape, highlighting jurisdictional differences, classification challenges, and emerging governance frameworks. To address key risks, we derive mitigation strategies via quantitative analysis and case-based evidence. The risks include balancing innovation with investor protection through adaptive regulatory design, promoting cross-border regulatory harmonization to prevent arbitrage and fragmentation, and supporting experimentation through regulatory sandboxes and innovation hubs. By adopting a forward-looking, evidence-based, and collaborative regulatory approaches, stakeholders can harness the benefits of DAs while managing systemic risks and maintaining market integrity.

Indexed as

BlockchainDecentralized financeDigital assetNon-fungible tokenRegulatory framework

Identifiers

PMID41669665
PMCPMC12883517

What OpenQuestion holds

Textmetadata
LicenceCC BY
Read underepoch 390

Registered trials

None linked

Read under generation 80e0d062 · epoch 390. Bibliography from PubMed, PubMed Central and OpenAlex; grants from NIH RePORTER; trial links from ClinicalTrials.gov; estimates, votes and beliefs from the OpenQuestion graph.