2,168 research outputs found
A Value-sensitive Design Perspective of Cryptocurrencies: A Research Agenda
Cryptocurrencies and their underlying blockchain technology have begun to transform numerous industries. Although we have seen an uptrend in the types of created cryptocurrencies, it has not yet translated into mainstream adoption., In this paper, we use value-sensitive design principles to identify values among current and potential cryptocurrency adopters. Using Bitcoin as the context for this qualitative research study, we use grounded theory analytical techniques to discover manifested values among users and non-users. We develop a cryptocurrency value-sensitive design framework to summarize our results. As our main contribution, we offer a research agenda based on the cryptocurrency stakeholders’ underlying value system. This agenda can help information systems scholars apply this value-sensitive design perspective to their own cryptocurrency research
AML/CFT regulations of EU in the age of virtual currency
Dissertação de mestrado em European and Transglobal Business LawGlobal consideration on money laundering has its origins in narco-trafficking of 1980s
which raised public awareness and took international regulatory body’s attention.
Throughout time, due to the socio-economic and political context, legislations on money
laundering were transformed in order to introduce an efficient response to new issues. As
a need in the aftermath of 9/11, counter-financing of terrorism (CFT) was included in the
scope of anti-money laundering (AML) legislations, due to the intertwined nature of these
two criminal matters.
A new challenge to the AML/CFT legislations was introduced by the technological
developments and the emergence of virtual currency. Appearing as an alternative, fast,
easy and cheap non-cash payment method, its relation with criminal activities,
widespread usage and unregulated operations raised concerns. When traditional
approaches to the fight against money laundering and financing of terrorism were
circumvented by pseudo-anonymous and decentralized nature of new transaction
methods, existing legislations were forced to be transformed once more.
European Union, taking its powers for regulating criminal matters from the Treaty of the
Functioning of European Union (TFEU), proposed an amendment to the 4th AML, with
the purpose of reducing anonymity of virtual currency. Not being accepted yet, its ability
to produce an adequate respond to challenges, due to the special nature of virtual
currency, is questionable.
This thesis analyse European Union’s current Anti-Money Laundering legislation and its
responsiveness to the characteristics of virtual currency that are attributable to the risks,
with particular attention to crypto-currency, through a critical perspective. It aimed to
raise awareness of the subject matter and contribute to the future of AML/CFT reuglations
of the EU.A preocupação internacional com o branqueamento de capitais está ligada ao narcotráfico
da década de oitenta. Ao longo do tempo e devido ao contexto sócio económico e político,
a legislação relacionada com o branqueamento de capitais foi sendo adaptada, permitindo
introduzir uma resposta mais eficiente aos novos desafios. Isto foi particularmente visível
na sequência dos ataques de 11 de setembro, momento a partir do qual a prevenção do
financiamento do terrorismo passou a estar incluída no domínio do branqueamento de
capitais, atendendo à ligação próxima entre estes dois fenómenos.
Um novo desafio à legislação sobre branqueamento de capitais surgiu como
desenvolvimento tecnológico, nomeadamente com o aparecimento de cripto-moedas. As
moedas virtuais surgiram como uma alternativa rápida, fácil e pouco dispendiosa, para
realizar pagamentos. Porém, a sua associação a atividades criminosas, uso generalizado
e ausência de regulamentação própria conduziram a fortes preocupações por parte das
entidades reguladoras. As abordagens tradicionais de combate à lavagem de dinheiro e
financiamento do terrorismo tornaram-se obsoletas perante a natureza descentralizada e
pseudoanónima destes novos métodos de transações, demandando uma reforma célere da
legislação existente.
A União Europeia, utilizando o Tratado sobre o Funcionamento da União Europeia como
forma de fundamentar os seus poderes, propôs uma alteração à diretiva 4.ª AML, com o
objetivo de reduzir o anonimato das cripto-moedas. Não tendo sido ainda aprovada, a
capacidade desta alteração produzir a resposta adequada aos desafios apresentados pela
natureza especial das moedas virtuais é, no mínimo, questionável.
O trabalho aqui apresentado analisa a atual legislação europeia contra o branqueamento
de capitais e a sua capacidade de responder às características das moedas virtuais, às quais
se atribui um elevado risco. Tem também como objetivo salientar questões relativas a
esta temática e despertar maior interesse, assim como contribuir para o futuro da
regulamentação AML/CFT da União Europeia
Exploring the Legal Issues of Blockchain Applications
A decade ago, blockchain technology made its mainstream debut with the introduction of Bitcoin, a cryptocurrency that has generated a lot of buzz in the financial sector. Blockchain’s elegantly simple way of securely and reliably recording data gives the technology the power to disrupt multiple industries. Cryptocurrencies and smart contracts are blockchain’s most common applications, but it can be implemented in a variety of ways.
This article examines blockchain’s core characteristics and mechanics as they apply to its common applications like cryptocurrency and smart contracts, as well as other transactional uses. The author presents some of the legal issues that arise from the use of blockchain, and particular attention is paid to the tax treatment of cryptocurrency transactions, contract law challenges of smart contracts and blockchain’s role as an industry disruptor
Blockchain Technologies: The Foreseeable Impact on Society and Industry
The authors describe blockchain's fundamental concepts, provide perspectives on its challenges and opportunities, and trace its origins from the Bitcoin digital cash system to recent applications
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