Jusletter IT

Virtual Currencies: Can Regulators Keep Pace?

  • Author: Vlad Dan Roman
  • Category: Scientific Articles
  • Region: Romania
  • Field of law: E-Commerce
  • Citation: Vlad Dan Roman, Virtual Currencies: Can Regulators Keep Pace?, in: Jusletter IT 24 September 2015
Innovation represents the dominant tendency when it comes to solving modern needs; to this extent things have evolved at an outstanding pace and are yet to be settled. The new paradigm is also applying to the payment behavior where the old barter exchanges are nowadays replaced by transactions with digital-conventional sources of value named virtual currencies. Even though progress represents the desiderate for wealth, the process per se creates vulnerabilities due to its dynamics. Along with innovation, social elements such as criminality or economic realities like enhanced competition are in the loop for a coherent regulatory answer.

Table of contents

  • 1. Introduction
  • 2. Structural and methodological stance
  • 3. From classic to dynamic
  • 4. Controversial nature
  • 5. (No) Regulatory framework
  • 6. Dealing with the problems
  • 6.1. Value loss
  • 6.2. Refund issues
  • 6.3. Theft
  • 6.4. Taxes
  • 6.5. Public interest
  • 7. The current EU bottom up regulatory perspective
  • 8. The impact on innovation markets
  • 9. Concluding remarks

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