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ECB - Virtual currency schemes Review

ECB - Virtual currency schemes

www.ecb.europa.eu

(0 reviews)
Site Rank: 3

I will warn you, this is not light reading. This is a professional document created by those employed at ECB.

I could try and explain it all in this review, but I think ECB should be the one to explain their own ruling to you without my intervention. Without further a due, I’ll list some key points discussed here and hopefully it’ll interest you enough to take a look!

• Payments-related aspects of virtual currency schemes

• Key actors and their roles

• The diversity of virtual currency schemes

• Differences between various decentralized virtual currency schemes

• Emerging business models

• Data and figures on virtual currency schemes

• The user’s perspective on virtual currency schemes

• A closer look at virtual currency schemes from the perspective of a central bank

• Virtual currencies do not fit the economic or legal definition of money or currency

• A new definition from the perspective of a central bank

• Impact on the tasks of the ECB/Eurosystem

• Legislative and regulatory responses to virtual currency schemes

• The interest and involvement of other European and international authorities

• National responses to virtual currency schemes

Pros & Cons
  • This page will provide you with a very clear outline of how the ECB views cryptocurrencies and provides a lot of the research data they have obtained.
  • This is not suitable for light reading. This is a very professional document with a lot of scary words that may go over your head if you aren’t educated in finance and blockchain technology.