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Improvements in technology, coupled with growing demand for digital payment methods, are increasingly reshaping the way payments are made. Non-bank institutions now offer a wide range of retail payment services. This raises the question of where the regulatory perimeter should be drawn....
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on the stablecoin project Libra in June 2019 sent shockwaves and led to defensive reaction against global stablecoins by … stablecoins taken by the G7 and the G20. In September 2020, the European Commission launched the MiCA draft legislation to plug … regulatory gaps concerning payment (including stablecoins) and utility tokens. Issuers, offerors and service providers of crypto …
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Central banks worldwide are currently exploring so called Central Bank Digital Currencies (CBDC). The Avant smart card system created by the Bank of Finland in the 1990's can be considered the world's first CBDC and the only one so far that has gone into production. Avant cards were based on...
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Cryptocurrencies such as Bitcoin might revolutionize the economy through enabling peer-to-peer based transactions by abolishing the need for a trusted intermediary. As for now, Bitcoin remains to be the best recognized cryptocurrency, in particular in terms of market capitalization. However, as...
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