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After Libra, Digital Yuan and COVID-19

central bank digital currencies and the new world of money and payment systems

Autor*in: Didenko, Anton N.; Zetzsche, Dirk; Arner, Douglas W.; Buckley, Ross P.

Erschienen: 11/06/2020

Verlag: European Banking Institute e.V., Frankfurt am Main, Germany

Technology, money and pay ... mehr

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Hamburg: Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek

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Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek

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keine Fernleihe

Kiel: ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel

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ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel

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VS 636

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Technology, money and pay ...

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Quelle:	Verbundkataloge
Sprache:	Englisch
Medientyp:	Buch (Monographie)
Format:	Online
Weitere Identifier:	doi: 10.2139/ssrn.3622311
Schriftenreihe:	EBI working paper series ; no. 65 (2020) European Banking Institute Working Paper Series 65/2020
Schlagworte:	Libra; blockchain; bitcoin; COVID-19; RTGS; fast payment systems; central bank digital currency
Umfang:	1 Online-Ressource (circa 56 Seiten), Illustrationen

Financial instruments entail liabilities

ether, bitcoin, and litecoin do no

Autor*in: Callens, Evariest

Erschienen: 15/06/2020

Verlag: European Banking Institute e.V., Frankfurt am Main, Germany

The financial assets that are subject to major European financial legislation (i.e. (designated types of) financial instruments) have traditionally been defined in a largely exemplary and circular manner. The recent proliferation of ‘non-traditional'... mehr

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Hamburg: Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek

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Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek

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keine Fernleihe

Kiel: ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel

Standort:

ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel

Signatur:

VS 636

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keine Fernleihe

The financial assets that are subject to major European financial legislation (i.e. (designated types of) financial instruments) have traditionally been defined in a largely exemplary and circular manner. The recent proliferation of ‘non-traditional' financial assets, such as cryptocurrencies and stablecoins, is increasingly challenging the viability of these pragmatic financial asset definitions. Through the analysis of the technologies and functionalities underpinning non-traditional financial assets, legal scholarship has aimed to categorize novel assets within the existing framework of financial asset definitions. Although a solid understanding of e.g. distributed ledger applications and cryptography appears a prerequisite for future policy and legislative interventions, contemporary European financial legislation is mostly indifferent to the technologies on which financial assets may be wired. Categorizations based on the purposes that non-traditional assets may serve (i.e. payment, utility, and investment) are more relevant to financial law, but suffer from subjectivity because they depend on the asset usage by the asset holder. Against this backdrop, this paper proposes a novel systematization of non-traditional assets that is based upon the conceptual substructure of the assets within scope of European financial legislation. More specifically, this paper submits that, irrespective of underlying technologies and functionalities, all assets that are subject to major European financial legislation have a conceptual common denominator: they entail the liability of an entity and, hence, have intrinsic value. The proposed categorization singles out a well-defined group of novel financial assets that is not subject to European financial law (i.e. assets that only have extrinsic value). Different from functionality- and technology-based categorizations, the suggested approach allows to eradicate ambiguities and potential overinclusiveness of functionality-based categorizations of non-traditional assets. By exploring the conceptual common denominator of the financial assets that are subject to European financial legislation, this paper aims to foster debate on the circular and exemplary character of financial asset definitions in European financial legislation in general and the relation of these definitions to novel types of financial assets in particular

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Quelle:	Verbundkataloge
Sprache:	Englisch
Medientyp:	Buch (Monographie)
Format:	Online
Weitere Identifier:	doi: 10.2139/ssrn.3630895
Schriftenreihe:	EBI working paper series ; no. 66 (2020) European Banking Institute Working Paper Series – ; No. 66
Schlagworte:	Financial Instruments; Transferable Securities; Intrinsic v. Extrinsic Asset Value; Assets That Entail Liabilities; Cryptocurrencies; Stablecoins; Bitcoin; Ether; Litecoin; Ripple; EOS; Tether; Binance Coin; Tez; Libra
Umfang:	1 Online-Ressource (circa 36 Seiten), Illustrationen

The path to the EU regulation Markets in Crypto-assets (MiCA)

Autor*in: Read, Oliver; Diefenbach, Carolin

Erschienen: 3 November 2022

Verlag: wifin, Wiesbaden Institute of Finance and Insurance, RheinMain University of Applied Sciences, [Wiesbaden]

This paper provides background to the upcoming EU regulation on Markets in Crypto-Assets (MiCA). The first step to regulate crypto-assets at EU level was taken by including virtual currencies in the revision of the Anti-Money Laundering Directive... mehr

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Karlsruhe: Bundesverfassungsgericht, Bibliothek

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Bundesverfassungsgericht, Bibliothek

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Online-Ressource

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keine Fernleihe

Kiel: ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel

Standort:

ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel

Signatur:

DS 833

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keine Fernleihe

This paper provides background to the upcoming EU regulation on Markets in Crypto-Assets (MiCA). The first step to regulate crypto-assets at EU level was taken by including virtual currencies in the revision of the Anti-Money Laundering Directive (5AMLD) which came into force 2018. Initial coin offerings fueled growth to a market with a variety of crypto-assets (payment, investment/security, utility and hybrid tokens). In principle, MiFID II should cover investment/security tokens by treating these as financial instruments. In January 2019, EBA and ESMA identified regulatory gaps at EU level. The announcement on the stablecoin project Libra in June 2019 sent shockwaves and led to defensive reaction against global stablecoins by regulators in light of significant risks and challenges posed. The EU institutions adopted strict positions against global stablecoins taken by the G7 and the G20. In September 2020, the European Commission launched the MiCA draft legislation to plug regulatory gaps concerning payment (including stablecoins) and utility tokens. Issuers, offerors and service providers of crypto-assets that are not financial instruments would be regulated under MiCA at EU level. Stricter rules should apply for stablecoins. After negotiations between the EU institutions, the final agreed MiCA text will go to plenary vote soon. The EU regulation will come into force in the EU member states in 2024. Many additional areas of action (Decentralized Finance, non-fungible tokens, EU taxonomy for sustainable activities) had to be left out from the MiCA scope for the sake of finalising the legislation.

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Quelle:	Verbundkataloge
Sprache:	Englisch
Medientyp:	Buch (Monographie)
Format:	Online
Weitere Identifier:	urn: urn:nbn:de:101:1-2022121300361895782354 doi: 10.25716/pur-51 hdl: 10419/266233
Schriftenreihe:	WIFIN working paper ; 13 (2022)
Schlagworte:	Bitcoin; crypto-assets; crypto-asset service providers; cryptocurrencies; distributed ledger technology (DLT); Diem; electronic money; initial coin offering (ICO); Libra; Meta; Markets in Cryptoassets (MiCA); non-fungible token (NFT); payment tokens; security tokens; stablecoins; TerraUSD; Transfer of Funds Regulation (ToFR); utility tokens
Umfang:	1 Online-Ressource (42 Seiten), Diagramme

Revista Libra (1929)

Erschienen: 2003

Verlag: El Colegio de México, México

Estudio introductorio : Alfonso Reyes y la revista argentina Libra -- Facsímil de Libra -- Correspondencia -- Reseñas y notas sobre Libra -- En torno a las "jitanjáforas." mehr