Digital currency – game changer or bit player
The inquiry was established to examine how best to define digital currency within the regulatory frameworks in order to support innovation and the needs of the growing Australian digital currency industry.
Digital Currency: You Canât Flip This Coin! – Report Of The Standing Senate Committee On Banking, Trade And Commerce
Digital currencies can be simultaneously viewed as a new currency, a new payment system and a new technology. The Committee examined virtual currencies from all three perspectives. The Report, which is the result of testimony from 55 witnesses at Ottawa Committee meetings and a fact-finding trip to New York City, contains eight recommendations.
Cryptocurrencies Bitcoin & co â new applications and regulatory challenges
Gaming regulators in jurisdictions such as Malta or the Isle of Man continue to assess wheth-er or not to allow digital currencies in a gaming environment, in particular within the licensed off er under their respective gaming legislation. In June 2014, the Isle of Man announced being âdigital currency friendlyâ and put amendments of its Gaming legislation in place. At the same time, the Isle of Man increased measures in order to protect players and combat crime. Before going into detail concerning the vast applications of digital currencies, the term âBitcoinâ and the understanding of âdigital currencyâ shall be defined for the sake of consistency within this article: Firstly, by using these terms we understand an alternative monetary system being a possible substitution and the opposite of traditional âmoneyâ that is emitted and controlled by national (central) banks. Secondly, by the terms âBitcoin / digital currencyâ we understand the peer-to-peer-system and its very specific technology of âblock chainsâ. And thirdly, inherent to the block chain system we understand these terms to define a Network Protocol that â for first time in history â allows the âprogrammabilityâ of money.
Opinion Paper on Next Generation Alternative Retail Payments: Infrastructure Requirements: EBA Working Group on Electronic Alternative Payments
In early 2014, the EBA e-AP Working Group published an opinion paper on the user requirements for next generation alternative retail payments. As a next step, the working group has published an opinion paper which aims to facilitate a discussion on the impact of these requirements on retail infrastructures. It focuses on the relation between the interbank infrastructure enabling e-APs and the services that e-APs consist of. After defining and scoping the current role of infrastructures, this paper sets out three possible directions for future developments and suggests an approach to EBA members.
Innovations in payment technologies and the emergence of digital currencies
This report discusses more recent developments in payment systems, focusing on the emergence of privately developed, internet-based digital currencies.
