Digital Currency An International Legal And Regulatory Compliance Guide

Author : Jeffrey H. Matsuura
Publisher : Bentham Science Publishers
Page : 114 pages
File Size : 43,9 Mb
Release : 2016-01-21
Category : Law
ISBN : 9781681082233

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Digital Currency: An International Legal and Regulatory Compliance Guide by Jeffrey H. Matsuura Pdf

Digital or ‘virtual’ currencies pose significant challenges for government, financial and legal institutions because of their non-physical nature and their relative anonymity to physical currency. These attributes make this form of exchange extremely volatile and, at the same time, attractive to criminals. Many countries around the world have, therefore issued warnings against the use of digital currencies and have enacted laws to regulate and in some cases, restrict their use among members under their respective jurisdictions. Digital Currency: An International Legal and Regulatory Compliance Guide serves as a primer for both general and specialized readers, as well as business law and e-commerce teachers and students, to recognize and understand the extensive network of laws and regulations already in place around the world which have a profound impact on the creation, distribution and use of digital currency and blockchain technology. The book is also a compliance guide assisting legal practitioners in the fields of business, law, and technology to develop, implement, manage, and maintain strategies, policies, practices, and procedures to ensure that their activities involving digital currency and blockchain technology comply with a complex set of legal requirements in several jurisdictions. The book addresses both the complex set of existing laws that have a profound impact on digital currencies and blockchain technology, and the emerging new legal requirements directed specifically towards digital currency. Readers will understand the broad implications of laws and regulations on digital currency and blockchain development and its use, and will also be equipped with the knowledge to incorporate these effectively into their professional and personal endeavors. This entails maximizing the value of digital currency and blockchain technology while also minimizing their risk of adverse legal consequences. Additionally, policymakers seeking to enforce current legislations or wishing to draft appropriate new regulations in the digital currency and blockchain economy will also benefit from the information provided in this book.

Author : Iain Sheridan
Publisher : Edward Elgar Publishing
Page : 336 pages
File Size : 41,6 Mb
Release : 2022-02-28
Category : Electronic
ISBN : 1802205403

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Financial Regulation and Technology by Iain Sheridan Pdf

This important book analyses recurring issues within financial services regulation relevant to the use of technology, at a time when competition is moving towards greater use of technology in the financial services sector. Iain Sheridan assumes no advanced knowledge of computers and related technology topics, but where necessary encapsulates the essential aspects to offer a comprehensive yet accessible guide to the regulation of finance and technology. Key features include: Cutting-edge coverage of topics within technology Drawing together the different strands of financial regulation and technology Succinctly encapsulating the essence of complex topics, including machine learning, artificial intelligence, intellectual property, and quantum computing Furthering readers' understanding of the key case law, regulation, authoritative financial services regulator guidance and international standards governing these specific themes. Financial Regulation and Technology will be crucial reading for legal counsel and compliance officers in asset managers, banks, platforms and FinTech SMEs looking to consolidate their knowledge of financial regulation and technology issues.

Author : Mr.Dong He,Mr.Karl F Habermeier,Mr.Ross B Leckow,Mr.Vikram Haksar,Ms.Yasmin Almeida,Ms.Mikari Kashima,Mr.Nadim Kyriakos-Saad,Ms.Hiroko Oura,Tahsin Saadi Sedik,Natalia Stetsenko,Ms.Concha Verdugo Yepes
Publisher : International Monetary Fund
Page : 42 pages
File Size : 40,7 Mb
Release : 2016-01-20
Category : Business & Economics
ISBN : 9781498363273

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Virtual Currencies and Beyond by Mr.Dong He,Mr.Karl F Habermeier,Mr.Ross B Leckow,Mr.Vikram Haksar,Ms.Yasmin Almeida,Ms.Mikari Kashima,Mr.Nadim Kyriakos-Saad,Ms.Hiroko Oura,Tahsin Saadi Sedik,Natalia Stetsenko,Ms.Concha Verdugo Yepes Pdf

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 : Philipp Hacker,Ioannis Lianos,Georgios Dimitropoulos,Stefan Eich
Publisher : Oxford University Press
Page : 464 pages
File Size : 54,7 Mb
Release : 2019-08-01
Category : Law
ISBN : 9780192579492

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Regulating Blockchain by Philipp Hacker,Ioannis Lianos,Georgios Dimitropoulos,Stefan Eich Pdf

Less than a decade after the Financial Crisis, we are witnessing the fast emergence of a new financial order driven by three different, yet interconnected, dynamics: first, the rapid application of technology - such as big data, machine learning, and distributed computing - to banking, lending, and investing, in particular with the emergence of virtual currencies and digital finance; second, a disintermediation fuelled by the rise of peer-to-peer lending platforms and crowd investment which challenge the traditional banking model and may, over time, lead to a transformation of the way both retail and corporate customers bank; and, third, a tendency of de-bureaucratisation under which new platforms and technologies challenge established organisational patterns that regulate finance and manage the money supply. These changes are to a significant degree driven by the development of blockchain technology. The aim of this book is to understand the technological and business potential of the blockchain technology and to reflect on its legal challenges. The book mainly focuses on the challenges blockchain technology has so far faced in its first application in the areas of virtual money and finance, as well as those that it will inevitably face (and is partially already facing, as the SEC Investigative Report of June 2017 and an ongoing SEC securities fraud investigation show) as its domain of application expands in other fields of economic activity such as smart contracts and initial coin offerings. The book provides an unparalleled critical analysis of the disruptive potential of this technology for the economy and the legal system and contributes to current thinking on the role of law in harvesting and shaping innovation.

Author : Paul Beckett
Publisher : Routledge
Page : 191 pages
File Size : 43,6 Mb
Release : 2019-05-08
Category : Business & Economics
ISBN : 9780429782008

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Ownership, Financial Accountability and the Law by Paul Beckett Pdf

There is something visceral about ownership. This is mine; you can’t have it. This is mine; you can share it. This is ours. Try to find it. Contemporary literature and investigative journalism are showing that the scale of the problem of tax evasion, money laundering, organised crime, terrorism, bribery, corruption and gross human rights abuses is vast. Ownership – specifically, the quest to identify beneficial owners - has been chosen by national and international regulators as the touchstone, the litmus test in the fight back. An owner by definition must possess something for which they are financially accountable. But what is meant by "ownership"? This book explains why ownership is pivotal to accountability, and what ownership means in common law, civil law and Shariah law terms. It looks in detail at State, regional and international transparency strategies and at an equally powerful global private counter-initiative to promote beneficial ownership avoidance through the use of so-called "orphan structures". Where there is no owner, there is no accountability. The distinction between privacy and legitimate confidentiality on the one hand, and concealment on the other is explained with reference to commercial and trade law and practice, principles of corporate governance and applicable business human rights. This book introduces one further counter initiative: the phenomenon of transient ownership made possible through the use of cryptocurrency and the blockchain. The study concludes with a blueprint for action with recommendations addressed to states, international organisations, practitioners and other stakeholders.

Author : Paul Beckett
Publisher : Taylor & Francis
Page : 236 pages
File Size : 53,8 Mb
Release : 2024-03-12
Category : Law
ISBN : 9781040000557

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Beneficial Ownership and Legal Responsibility by Paul Beckett Pdf

This book explores the connection between ownership, on one hand, and immunity from legal responsibility, on the other. It presents a definition of the concept of beneficial ownership, the reasons for its concealment, and failures in international legal structures and arrangements. Globally, States confront complex criminality, such as corruption, tax evasion, doctrinal fanaticism, trafficked slaves, terrorism and, war. At the personal level, men and women may seek to escape their creditors, to disinherit unwanted heirs, to cheat divorced partners, and to appear straightforward when this is not the case. The response of politicians and regulators has been a global State initiative to identify beneficial owners via public registers to promote transparency and accountability. Yet, at the same time, there is an equally powerful global and personal counter-initiative to promote beneficial ownership avoidance. Where there is no owner, there is no accountability. This book examines what “ownership” means in legal terms across multiple legal systems and explains why singling out “ownership” as being pivotal to State and personal accountability is a strategy both flawed and disingenuous. It is argued that an apparent lack of political will coupled with shape-shifting definitions of “ownership” have resulted in tokenism. Particular attention is paid to those “orphan” structures which have evolved from standard models, or which have been designed for the purpose in each case of facilitating ownership concealment and avoidance. The author explains how the virtual world of the blockchain, crypto-assets and cryptocurrency, and virtual entities such as the Decentralised Autonomous Organisation (DAO), all of which elude legal classification, have opened a new world of possibilities. Applicable across all jurisdictions and legal systems, the book will be a valuable resource for academics, researchers, and policy-makers working in the areas of Financial Crime, Regulation, Compliance, Business, and Accountancy.

Author : Mr.Tanai Khiaonarong,Terry Goh
Publisher : International Monetary Fund
Page : 38 pages
File Size : 55,5 Mb
Release : 2020-05-29
Category : Business & Economics
ISBN : 9781513531496

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Fintech and Payments Regulation: Analytical Framework by Mr.Tanai Khiaonarong,Terry Goh Pdf

Financial technology (Fintech) has prompted authorities to consider their potential financial stability benefits, risks, and effective regulation. Recent developments suggest that regulatory approaches and their legal foundations need to augment entity-based regulation with increasing focus on activities and risks as market structure changes. This paper draws on recent international experiences in modernizing legal and regulatory frameworks for payment services. An analytical framework based on a four-step process is proposed—(i) identifying payment activities; (ii) licensing entities and designating systems; (iii) analyzing and managing risks, and (iv) promoting legal certainty. As payment activities evolve and potential systemic risks heighten, adherence to international standards and additional regulatory requirements should be warranted.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 98 pages
File Size : 45,8 Mb
Release : 2009-09-14
Category : Business & Economics
ISBN : 9781589068254

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International Transactions in Remittances by International Monetary Fund Pdf

The International Transactions in Remittance: Guide for Compilers and Users (RCG) presents concepts, definitions, and classifications related to remittances. It is consistent with the new standards for measuring balance of payments transactions, as contained in the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). These standards are used globally to compile comprehensive and comparable data. The RCG identifies the main remittances compilation methods currently being used by compilers and discusses in detail the strengths and weaknesses of each method. It is the first manual providing compilation guidance for remittances and is also the first compilation guide based on concepts set out in BPM6. Although the RCG is primarily aimed at remittances data compilers, it may also be useful for users who wish to understand remittances data.

Author : Michael S. Sackheim,Nathan A. Howell
Publisher : Unknown
Page : 436 pages
File Size : 50,6 Mb
Release : 2020
Category : Comparative law
ISBN : 1838625135

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The Virtual Currency Regulation Review by Michael S. Sackheim,Nathan A. Howell Pdf

Author : Group of Ten. Committee on Payment and Settlement Systems
Publisher : Unknown
Page : 68 pages
File Size : 54,6 Mb
Release : 2007
Category : Emigrant remittances
ISBN : IND:30000116154836

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General Principles for International Remittance Services by Group of Ten. Committee on Payment and Settlement Systems Pdf

Author : Niklas Schmidt,Jack Bernstein,Stefan Richter,Lisa Zarlenga
Publisher : Kluwer Law International B.V.
Page : 677 pages
File Size : 52,9 Mb
Release : 2020-11-27
Category : Law
ISBN : 9789403523514

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Taxation of Crypto Assets by Niklas Schmidt,Jack Bernstein,Stefan Richter,Lisa Zarlenga Pdf

The emergence of crypto assets has required taxation authorities worldwide to develop unprecedented policies and compelled tax lawyers to apply existing laws in new ways. This book – the only one to focus solely on the taxation of crypto assets – provides a detailed country-by-country analysis of how the tax law of thirty-nine countries may apply to this rapidly developing area, including different use cases and compliance and documentation requirements. Following an overview of the technology and key characteristics of crypto assets, as well as the key tax concepts and types of taxes that could apply to them, leading practitioners in each particular jurisdiction summarize the relevant tax law in that country. Fully explained are such aspects of crypto assets as the following and how they are interrelated: sales; exchanges; receipt as remuneration; forks; airdrops; mining; staking; initial coin offerings; security token offerings; and initial exchange offerings. Contributors describe how each jurisdiction applies income and capital gains taxation, value-added tax and sales tax, withholding taxes, transfer taxes, and gift, inheritance, estate and wealth taxes in the context of crypto assets. Reporting requirements and enforcement are also covered. Tax law, as it applies to crypto assets, is new and continues to evolve. This book will be welcomed as the premier resource for tax practitioners, government officials, advisors, investors, issuers, users of crypto assets, and taxation academics who are seeking informed awareness of the policy choices countries make in dealing with the taxation of this new technology. Tax lawyers dealing with crypto assets will have comprehensive practical guidance on how to comply with the tax laws of multiple jurisdictions.

Author : Mr.John Kiff,Jihad Alwazir,Sonja Davidovic,Aquiles Farias,Mr.Ashraf Khan,Mr.Tanai Khiaonarong,Majid Malaika,Mr.Hunter K Monroe,Nobu Sugimoto,Hervé Tourpe,Peter Zhou
Publisher : International Monetary Fund
Page : 66 pages
File Size : 48,9 Mb
Release : 2020-06-26
Category : Business & Economics
ISBN : 9781513547787

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A Survey of Research on Retail Central Bank Digital Currency by Mr.John Kiff,Jihad Alwazir,Sonja Davidovic,Aquiles Farias,Mr.Ashraf Khan,Mr.Tanai Khiaonarong,Majid Malaika,Mr.Hunter K Monroe,Nobu Sugimoto,Hervé Tourpe,Peter Zhou Pdf

This paper examines key considerations around central bank digital currency (CBDC) for use by the general public, based on a comprehensive review of recent research, central bank experiments, and ongoing discussions among stakeholders. It looks at the reasons why central banks are exploring retail CBDC issuance, policy and design considerations; legal, governance and regulatory perspectives; plus cybersecurity and other risk considerations. This paper makes a contribution to the CBDC literature by suggesting a structured framework to organize discussions on whether or not to issue CBDC, with an operational focus and a project management perspective.

Author : OECD
Publisher : OECD Publishing
Page : 324 pages
File Size : 50,7 Mb
Release : 2017-03-27
Category : Electronic
ISBN : 9789264267992

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Standard for Automatic Exchange of Financial Account Information in Tax Matters, Second Edition by OECD Pdf

This publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.

Author : Anonim
Publisher : World Bank Publications
Page : 284 pages
File Size : 52,7 Mb
Release : 2009
Category : Law
ISBN : 9780821379028

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Stolen Asset Recovery by Anonim Pdf

This book is a first-of-its-kind, practice-based guide of 36 key concepts?legal, operational, and practical--that countries can use to develop non-conviction based (NCB) forfeiture legislation that will be effective in combating the development problem of corruption and recovering stolen assets.

Author : Jelena Madir
Publisher : Edward Elgar Publishing
Page : 719 pages
File Size : 40,8 Mb
Release : 2024-05-02
Category : Law
ISBN : 9781035314751

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FinTech by Jelena Madir Pdf

This fully revised and updated third edition provides a practical examination of legal and regulatory issues in FinTech, a sector whose rapid rise in recent years has produced opportunities for innovation but has also raised new challenges. Featuring insights from over 40 experts from 10 countries, this book analyses the statutory aspects of technology-enabled developments in banking and considers the impact these changes will have on the legal profession.