Impact of Digital Innovation on the Processing of Electronic Payments and Contracting: An Overview of Legal Risks

Athanassiou, Phoebus

doi:10.2139/ssrn.3067222

Cited by 29 publications

(3 citation statements)

References 14 publications

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“…ECB defines virtual currencies as "a digital representation of value that is not issued by a central bank, a credit institution or an electronic money institution, which, in certain circumstances, can be used as an alternative to money" (Athanassiou, 2017). In the ECB's opinion, " virtual coins are not money or currency", legally speaking.…”

Section: Defining Virtual Currencies At Eu Level (Including Uk)mentioning

confidence: 99%

Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

Țegledi

Străoanu

2022

LUMEN Proceedings

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Lately, there have been many questions from specialists regarding the accountability of cryptocurrency. The lack of a legislation has allowed them to be interpreted as either intangible assets or stocks, even though Romania owns the biggest transaction platform in Eastern Europe (Bitcoin Romania). National Bank of Romania (NBR) acknowledges the lack of regulations and supervisions regarding cryptocurrency, regarding them as “speculative assets, extremely volatile and risky”. Simultaneously, this brings to attention the fact that these are not national coins nor currencies, and accepting them as a payment method isn’t, legally speaking, mandatory.

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Section: Defining Virtual Currencies At Eu Level (Including Uk)mentioning

confidence: 99%

Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

Țegledi

Străoanu

2022

LUMEN Proceedings

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“…Implementaciones digitales de acuerdos formales. Los "contratos inteligentes " de acuerdo con el Banco Central Europeo son "arreglos de tipo contractual incorporados en un software que este último puede validar, ejecutar y grabar de manera automática en una plataforma de tecnologías de registro distribuido (DLT), tan pronto como se cumplan cierta condiciones preprogramadas y acordadas por humanos" (Athanassiou, 2017). Estos contratos tienen las siguientes características: (Chen et al, 2018) • Incluyen intereses financieros y económicos • Son impulsados por eventos.…”

Section: • No Son Valorunclassified

Criptoactivos

Cano¹

2022

Sistemas

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La acelerada innovación financiera habilitada por cuenta de la transformación digital de la experiencia de los clientes ha llevado tanto al sector bancario como a la sociedad en general a repensar la manera como se adquieren los bienes, cómo se concreta la experiencia del valor y cómo se constituyen los medios de pago. La emergencia sanitaria internacional con las restricciones impuestas por los contagios y las tensiones internacionales por cuenta de la inestabilidad geopolítica y los conflictos actuales, han marcado la agenda del desarrollo de los criptoactivos, los cuales se configuran como el nuevo referente de la desintermediación financiera. Este artículo desde una perspectiva académica y práctica hace una revisión conceptual de esta temática y analiza al menos siete tendencias que van transformar la dinámica de la sociedad actual en el mediano plazo, para reflexionar y anticipar posibles tendencias que terminen cambiando el status quo del mundo actual.

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“…Black's Law Dictionary defines a bank as a financial establishment for the deposit, loan, exchange, or issue of money and for the transmission of funds. 3 One of the first precise definitions of banks was in the US Bank Holding Companies Act which defined banks as institutions that accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties or others, and is engaged in the business of making commercial loans. 4 Grgurek defines banks as institutions that are collecting deposits,…”

Section: Commercial Banks and The Services They Are Providingmentioning

confidence: 99%

Do Digital Technologies Have the Power to Disrupt Commercial Banking?

Golubić¹

2019

iele

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The hypothesis guiding this paper is if digital technologies have the power to alter the commercial banks' set-up and the way they provide their services. This would suggest that the new types of (traditional) banking services and the new type of (traditional) banking service providers have emerged in the market. The paper describes the commercial banking services, the set-up commercial banks operate in and the changes occurring in the market triggered by financial technology (the FinTech firms). When researching the effects of financial technology, the paper focuses on the trends in the market and the efficiencies the new services are responsible for. The new service providers have shown that they are meeting the demands of the consumers/clients that banks have not, such as crowdfunding, or battling financial inclusion. The grand issue surrounding the FinTech sector is the lack of applicable regulatory environment. Challenges the regulators are faced with when designing the regulation applicable to the financial technology are the speed the services are evolving with and choosing the right moment to place regulation. The lack of adequate regulation leaves customers/clients unprotected. Nevertheless, the FinTech sector is growing rapidly. Indications in the market suggest the FinTech firms are leading the way the commercial banking sector will follow.

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Impact of Digital Innovation on the Processing of Electronic Payments and Contracting: An Overview of Legal Risks

Cited by 29 publications

References 14 publications

Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

Cryptocurrency (Virtual Coins): Accounting Aspects and Tax Regulations

Criptoactivos

Do Digital Technologies Have the Power to Disrupt Commercial Banking?

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