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Author:
Publisher:
ISBN: 9781838620554
Category : Comparative law
Languages : en
Pages : 420
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Book Description
Author:
Publisher:
ISBN: 9781838620554
Category : Comparative law
Languages : en
Pages : 420
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Book Description
Author: Michael S. Sackheim
Publisher:
ISBN: 9781838625139
Category : Comparative law
Languages : en
Pages : 436
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Book Description
Author: Michael S. Sackheim
Publisher:
ISBN: 9781838628390
Category : Comparative law
Languages : en
Pages : 422
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Book Description
Author: Sara Aljufaili
Publisher: GRIN Verlag
ISBN: 3346086747
Category : Law
Languages : en
Pages : 56
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Book Description
Thesis (M.A.) from the year 2019 in the subject Law - Civil / Private, Trade, Anti Trust Law, Business Law, grade: 68% (UK) 3.88 (USA), Northumbria University (Northumbria University Law school), course: International Trade Laws Masters, language: English, abstract: The purpose of this paper is to evaluate the existing national and international regulatory approaches in detecting and preventing money laundering activities through virtual currencies. The objective of this evaluation is to determine if these current regulatory approaches require modifications to enhance their effectiveness. The evaluation of these different approaches will also be used to determine the most suitable regulatory approach for virtual currencies that acts as an effective Anti-Money Laundering (AML) regime. As stated previously, virtual currency regulation is a developing area of law. Hence, the majority of regulations discussed in this paper has not come into effect. As a result, the evaluation on the effectiveness of these regulations is only a projection based on academic sources. The recent reform on this area also means that there is a limited number of academics that evaluated these regulations. The development of technology in these past years has created a new financial medium known as the virtual currency market1. The use of virtual currencies has become wide-spread, due to the development of this financial market2. As a result, virtual currencies are in the process of becoming an international financial instrument that may hold significant economic value to the global financial market in the future. Regulations have only started responding to virtual currencies, due to their novelty. The instant growth of this financial instrument and its virtual element is bound to create unique regulatory challenges3. For this reason, this paper intends to study the different approaches regulating virtual currencies. These different regulatory approaches will be evaluated to ensure their effectiveness as Anti-Money Laundering (AML) regimes. Money laundering activities without the virtual element are already considered a global economic concern4. Virtual currencies have the ability of amplifying this issue, because they pose a serious threat to functioning of financial markets if they are employed in money laundering activities5. Jurisdictions only recently have comprehended the implications of this issue, which resulted in developing this new area of law that regulates virtual currencies. The emergence of virtual currency regulations provides a conducive field of study, that is relevant to the current changes undergoing the financial system.
Author: Aleksandra Bal
Publisher: Kluwer Law International B.V.
ISBN: 9403501049
Category : Law
Languages : en
Pages : 314
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Book Description
The emergence of convertible decentralized virtual currency schemes confronts tax authorities with unprecedented questions, among them are the status of virtual currency for tax purposes, which virtual transactions may bene?t from a VAT exemption and determining the most optimal method of tax regulation. This ?rst book-length treatment of this major current topic provides an in-depth and comprehensive analysis of the tax implications of virtual currency transactions. Seeking to ascertain whether virtual currency requires additional regulation or whether the law as it stands is adequate to administer its usage, the analysis not only thoroughly explains the nature of the underlying blockchain technology and its regulatory and judicial treatment so far but also identi?es best practices for virtual currency transactions and makes recommendations for the improvement of the existing tax systems. Among the aspects of the phenomenon covered are the following: – particular aspects of virtual currency use such as smart contracts and initial coin offerings; – comparative review of income tax consequences of virtual currency transactions in Germany, the Netherlands, the United Kingdom and the United States; – VAT/sales tax treatment of transactions involving virtual currency in the European Union and the United States; – methodology for creating an effective regulatory framework for the taxation of virtual currency; and – the future of blockchain. The book has three parts and an annex that describes tax regulations, administrative rulings and court decisions concerning virtual currency in twenty countries. In its in-depth analysis of tax implications of virtual currency transactions in major economies, detailed overview of recent tax developments that affect virtual currency transactions and evaluation of tax policies related to virtual currencies, this book has no peers. Especially in view of the OECD's examination of the tax challenges presented by the digital economy as part of its base erosion and pro?t shifting (BEPS) project, this clear and comprehensive explanation of the functioning of virtual currency and blockchain technology will be welcomed by tax administration of?cials and by persons mining and transacting in virtual currencies needing to know their compliance obligations.
Author: V. Gerard Comizio
Publisher: Aspen Publishing
ISBN: 1543831095
Category : Law
Languages : en
Pages : 403
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Book Description
Virtual Currency Law: The Emerging Legal and Regulatory Framework by V. Gerard Comizio is one of the first casebooks to explore the emerging legal and regulatory framework governing virtual currency activities under a wide range of federal and state laws, including securities, banking, commodities, money transmission, payments systems, commercial, anti-money laundering, fintech, cyber and data security, tax, Constitutional and international laws. Virtual Currency Law is one of the first books specifically suited for use in a law school course exploring the emerging legal and regulatory framework governing virtual currency activities. Since the advent of the first virtual currency (Bitcoin) in 2008, a new global financial ecosystem has emerged, composed of an increasing number and variety of digital assets. In this context, the book explores how governments, regulators and legal experts are increasingly looking to existing securities, banking, commodities, money transmission, payment systems, commercial, anti-money laundering, fintech, cyber and data security, tax, Constitutional and international laws to address the unique, novel, and complex issues presented by virtual currency. The book also explores how the ubiquitous nature of virtual currency has led to it being viewed as the legal and regulatory equivalent of a wide range of traditional corporate and financial services products, services, activities, and investments. Highlights of the First Edition: One of the first legal textbooks to address the wide range of emerging virtual currency law and regulation Chapter by chapter coverage of major areas of emerging corporate and financial institutions law and regulation governing virtual currency-related products, services, investments, and activities Cutting edge materials on emerging Constitutional law issues Professors and students will benefit from: Each chapter generally begins with a basic introduction to the fundamental legal and regulatory legal framework of the respective areas of law being applied to virtual currency. As such, for students, it is not only a useful primer on virtual currency regulation, but also provides a basic understanding of major areas of corporate and financial institutions laws. for professors who are not experts in all areas of law and regulation covered in the book, these chapter introductions will help provide a better understanding of the materials. The chapters, organized by the area of law and regulation analyzed, also provide useful comparative analysis of similar concepts under other laws and regulations discussed in other chapters. To provide a broader context and understanding of the materials presented, the book also covers current developments in policy areas related to virtual currency, including developments in government-backed virtual currencies, emerging quantum computer cyber threats to the blockchain and emerging free speech issues regarding social media restraints on virtual currency activities.
Author: Rosario Girasa
Publisher: Springer
ISBN: 3319785095
Category : Business & Economics
Languages : en
Pages : 285
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Book Description
The book highlights the rise of Bitcoin, which is based on blockchain technology, and some of the many types of coins and tokens that emerged thereafter. Although Bitcoin and other cryptocurrencies have made national and international news with their dramatic rise and decline in value, nevertheless the underlying technology is being adopted by both industry and governments, which have noted the benefits of speed, cost efficiency, and protection from hacking. Based on numerous downloaded articles, laws, cases, and other materials, the book discusses the digital transformation, the types of cryptocurrencies, key actors, and the benefits and risks. It also addresses legal issues of digital technology and the evolving U.S. federal regulation. The varying treatment by individual U.S. states is reviewed together with attempts by organizations to arrive at a uniform regulatory regime. Both civil and criminal prosecutions are highlighted with an examination of the major cases that have arisen. Whether and how to tax cryptocurrency transactions both in the U.S. and internationally are analyzed, and ends with a speculative narrative of future developments.
Author: Mr.Dong He
Publisher: International Monetary Fund
ISBN: 1498321305
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
New technologies are driving transformational changes in the global financial system. Virtual currencies (VCs) and the underlying distributed ledger systems are among these. VCs offer many potential benefits, but also considerable risks. VCs could raise efficiency and in the long run strengthen financial inclusion. At the same time, VCs could be potential vehicles for money laundering, terrorist financing, tax evasion and fraud. While risks to the conduct of monetary policy seem less likely to arise at this stage given the very small scale of VCs, risks to financial stability may eventually emerge as the new technologies become more widely used. National authorities have begun to address these challenges and will need to calibrate regulation in a manner that appropriately addresses the risks without stifling innovation. As experience is gained, international standards and best practices could be considered to provide guidance on the most appropriate regulatory responses in different fields, thereby promoting harmonization and cooperation across jurisdictions.
Author: United States Government Accountability
Publisher: CreateSpace
ISBN: 9781500700294
Category : Political Science
Languages : en
Pages : 56
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Book Description
Virtual currencies—digital representations of value that are not government-issued—have grown in popularity in recent years. Some virtual currencies can be used to buy real goods and services and exchanged for dollars or other currencies. One example of these is bitcoin, which was developed in 2009. Bitcoin and similar virtual currency systems operate over the Internet and use computer protocols and encryption to conduct and verify transactions. While these virtual currency systems offer some benefits, they also pose risks. For example, they have been associated with illicit activity and security breaches, raising possible regulatory, law enforcement, and consumer protection issues. GAO was asked to examine federal policy and interagency collaboration issues concerning virtual currencies. This report discusses (1) federal financial regulatory and law enforcement agency responsibilities related to the use of virtual currencies and associated challenges and (2) actions and collaborative efforts the agencies have undertaken regarding virtual currencies. To address these objectives, GAO reviewed federal laws and regulations, academic and industry research, and agency documents; and interviewed federal agency officials, researchers, and industry groups.
Author: Ben Tong
Publisher:
ISBN: 9783346211279
Category :
Languages : en
Pages : 62
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Book Description
Master's Thesis from the year 2020 in the subject Computer Sciences - Cryptocurrency, University of Greenwich, language: English, abstract: This work will study the legitimacy of virtual currencies through UK and Hong Kong regulations. UK and Hong Kong regulatory authorities have been claiming they have already covered virtual currencies and already regulating this part of the financial world. The study examines issues to assess if there is actual protection over the use of virtual currency and the possible reforms to existing virtual currency regulations. Virtual currency is digital currency, that exists in electronic form. Virtual currency can only be stored and processed through designated software, mobile devices, computer applications or a dedicated digital wallet, and transactions are made over a secure, private network via the Internet. Virtual currencies are not authorized by the central bank. Technology has been driving the financial world, and a successful example is the increasing acceptance of electronic payments, which is also form of digital currency. Virtual currencies, such as Bitcoin, are becoming increasingly popular. PricewaterhouseCoopers estimated that about 150 active crypto hedge funds that invest in virtual currencies and currently manage approximately $ 1 billion in assets and this number does not include crypto index funds and crypto venture capital funds (making equity type investments). According to the report, crypto hedge funds were able to double their AUM in 2018, and the AUM of crypto hedge funds increased from $ 2.1 million in January 2018 to $ 4.3 million at the end of the first quarter of 2019. Contrast to virtual currencies, electronic payment is widely accepted and now plays an important role in the daily transactions of individuals, companies and society. This is an example how the financial innovation has been developing and benefit the society. Financial innovation has the potential to create jobs and economic activities,
