{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/capital-controls",
 "identifier": "kaal:entity:capital-controls",
 "name": "Capital controls",
 "termCode": "capital-controls",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/capital-controls.md",
 "sha256": "fa96667dbb4bcae1f25284de2c6a1352e74b1b4f02e64be8a74d36c092e2a5cd",
 "additionalProperty": [
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   "name": "status",
   "value": "derived"
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   "value": 2
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   "value": 2
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  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2019",
    "2022"
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 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3396522-035",
   "identifier": "kaal:claim:3396522-035",
   "text": "Because stable cryptocurrencies are free of the real world pressures that constrain emerging market currencies, they may be able to experiment with solutions that overcome the currency trilemma, attaining a fixed exchange rate, free capital movement, and an independent monetary policy at once.",
   "abstract": "lack of real-world pressures that afflict emerging market currencies may enable stable cryptocurrency projects to experiment with solutions that can help overcome the trilemma.",
   "citation": "Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522",
   "datePublished": "2019",
   "claim_type": "predictive",
   "confidence": "speculative",
   "is_failure_mode": false,
   "scope_conditions": [
    "hinges on DAO governance protocols that deliver full decentralization and independence"
   ],
   "source_pdf_sha256": "ef5031b16aa53476ed618f0bdf92601cd4affb893692c701134bd9cba3ea8acf",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/4033886-011",
   "identifier": "kaal:claim:4033886-011",
   "text": "Cross exchange price gaps in crypto do not self correct because of frictions on the arbitrageur side: South Korean investors faced foreign exchange conversion costs and regulatory capital controls that made exploiting the Bithumb premium impractical.",
   "abstract": "It is unlikely any South Korean investor was able to take advantage of this opportunity because of the hurdles they would have to go through before being able to access the US exchange Coinbase.",
   "citation": "Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886",
   "datePublished": "2022",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "South Korean investors seeking access to US exchanges",
    "capital controls and foreign exchange frictions in place"
   ],
   "source_pdf_sha256": "52ba05b1292b1be4bfaf1ee5cf56b14fea9c196d870603e794d7ee316df129bd",
   "status": "current"
  }
 ],
 "description": "2 claims in the published works of Wulf A. Kaal carry the concept tag 'capital-controls'. Derived node: a roster, not an adjudicated definition."
}