The Regulation and Differences between Cryptocurrency, Stablecoin, Central Bank Digital Currency, E-Money, Virtual Currency, and In-Game Currency
Decentralized digital currencies, such as Bitcoin, have been trendsetter in recent years. This new technology can be used in several applications, such as transferring money, recording data, and investing, making it an alternative to the existing financial systems. The virtual and decentralized nature of this technology makes the application of traditional legal frameworks ineffective. Furthermore, unlike E-money, Central bank digital currency, stablecoins, decentralized cryptocurrencies do not have specific legal entity. This paper explores various legal definitions of cryptocurrency, stablecoin, central bank digital currency, e-money, virtual currency, and in-game currency. It provides some literature review of documented analysis on the difference between each type of currency. The main contribution of this work is to explore the regulatory aspects of each type of currency. The potential for each type of currency to be used in international transactions and in illicit activities is considered as well. The current legal status in the UK and the EU that has pioneered the path to regulating digital currencies is examined
Year of publication: |
[2023]
|
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Authors: | Mokhinur, Kuldosheva ; Dilshodbek, Abdullaev ; Khodjaev, Shakhzod ; Amira, Shukrilloeva |
Publisher: |
[S.l.] : SSRN |
Subject: | Virtuelle Währung | Virtual currency | Elektronisches Geld | Electronic money | Zentralbank | Central bank | Geldpolitik | Monetary policy | Bargeldloser Zahlungsverkehr | Noncash payments |
Saved in:
freely available
Extent: | 1 Online-Ressource (21 p) |
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Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments March 17, 2023 erstellt |
Other identifiers: | 10.2139/ssrn.4391523 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10014351401
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