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📊 Size: 1.9 MB
📄 Pages: 42 pages
⬇️ Downloads: 24

Summary

New technologies are driving transformational change in the global economy, including the emergence of virtual currencies (VCs) that facilitate peer-to-peer exchange, bypassing traditional central clearinghouses. VCs offer potential benefits, including greater speed and efficiency in making payments and transfers, promoting financial inclusion, and innovative decentralized means of keeping track of transactions. However, VCs pose considerable risks, including money laundering, terrorist financing, tax evasion, and fraud, with potential risks to financial stability as they become more widely used. Regulatory responses to VCs are still at an early stage, with various approaches across countries, including clarifying existing legislation, issuing warnings, imposing licensing requirements, and prosecuting violators.

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Description

New technologies are driving transformational change in the global economy, including the emergence of virtual currencies (VCs) that facilitate peer-to-peer...

Technical Information

  • File Format: PDF
  • File Size: 1.9 MB
  • Pages: 42
  • Language: EN
  • Total Downloads: 24
  • Last Updated: 2 months ago

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