Legal Aspects on the Currency Policy, Currency Regime, Currency Market and Virtual Currency

The concept of “currency” designates the cash that is used in international transaction, other than the one used for national transactions. Foreign currency is, practically, the national “coin” of another state or the “coin” used by a monetary union of some states. While the monetary policy of a state represents a set of measures meant to ensure the internal stableness of a national currency, the currency policy is a set of measures being taken to ensure and maintain the stableness of the national currency at a foreign level. The virtual currency is, according to ESMA (European Security and Market Authority), “the virtual representation of the value, which is not issued by a central bank, credit institution or institution of electronic currency, and which can be used as an alternative to the legal currency in certain circumstances”

Juridical challenges regarding bitcoin

Criptocurrencies are popular convertible virtual currencies, as they use security mechanisms such as cryptography for creating units of the currency and controlling the transaction. Th e main property of criptocurrencies is that they provide anonymity for the transaction, as they work based on Blockchain technology. Bitcoin is one of the most important criptocurrencies on the market. Whereas we like it or not, it seems that Bitcoin has become a powerful payment instrument, but also a payment system. Th e national Governments face now a new challenge: the necessity of regulating Bitcoin. But Bitcoin is incompatible with any kind of centralized control. We can only imagine that eff ective regulations can exist only through worldwide cooperation: “Bitcoin and other virtual currencies are present and growing in major economies, supporting the call for increased global cooperation”21. Th is will be probably an expensive and complex process

Studia Prawnicze. Rozprawy i materiały nr 1 (26), 2020

Słowo wstępne: "Drodzy Czytelnicy, oddajemy w Wasze ręce kolejny numer czasopisma, zamieszczając w nim interesujące spostrzeżenia autorów na temat kilku ważkich zagadnień. Cieszymy się, że łamy naszego periodyku stanowią od pewnego czasu miejsce dyskursu naukowego, który ma nie tylko ogólnopolski charakter. Fakt, że jesteśmy dostrzegani w innych krajach i stanowimy szersze forum wymiany myśli akademickiej, może cieszyć, choć mam nadzieję, że w tej mierze nie powiedzieliśmy jeszcze ostatniego słowa. Cały czas jesteśmy otwarci na młodych, liczymy na nowe inspiracje i zachęcamy do zgłaszania kolejnych tekstów. Potwierdza to obecny numer ”Studiów Prawniczych”, gdzie piszą dla Was nie tylko uznane autorytety, ale także osoby stawiające swoje pierwsze kroki w nauce. Zachęcam do lektury.

A Survey of Empirical Results on Program Slicing

International audienceBACKGROUND:Patients with peripheral artery disease have an increased risk of cardiovascular morbidity and mortality. Antiplatelet agents are widely used to reduce these complications.METHODS:This was a multicentre, double-blind, randomised placebo-controlled trial for which patients were recruited at 602 hospitals, clinics, or community practices from 33 countries across six continents. Eligible patients had a history of peripheral artery disease of the lower extremities (previous peripheral bypass surgery or angioplasty, limb or foot amputation, intermittent claudication with objective evidence of peripheral artery disease), of the carotid arteries (previous carotid artery revascularisation or asymptomatic carotid artery stenosis of at least 50%), or coronary artery disease with an ankle-brachial index of less than 0·90. After a 30-day run-in period, patients were randomly assigned (1:1:1) to receive oral rivaroxaban (2·5 mg twice a day) plus aspirin (100 mg once a day), rivaroxaban twice a day (5 mg with aspirin placebo once a day), or to aspirin once a day (100 mg and rivaroxaban placebo twice a day). Randomisation was computer generated. Each treatment group was double dummy, and the patient, investigators, and central study staff were masked to treatment allocation. The primary outcome was cardiovascular death, myocardial infarction or stroke; the primary peripheral artery disease outcome was major adverse limb events including major amputation. This trial is registered with ClinicalTrials.gov, number NCT01776424, and is closed to new participants.FINDINGS:Between March 12, 2013, and May 10, 2016, we enrolled 7470 patients with peripheral artery disease from 558 centres. The combination of rivaroxaban plus aspirin compared with aspirin alone reduced the composite endpoint of cardiovascular death, myocardial infarction, or stroke (126 [5%] of 2492 vs 174 [7%] of 2504; hazard ratio [HR] 0·72, 95% CI 0·57-0·90, p=0·0047), and major adverse limb events including major amputation (32 [1%] vs 60 [2%]; HR 0·54 95% CI 0·35-0·82, p=0·0037). Rivaroxaban 5 mg twice a day compared with aspirin alone did not significantly reduce the composite endpoint (149 [6%] of 2474 vs 174 [7%] of 2504; HR 0·86, 95% CI 0·69-1·08, p=0·19), but reduced major adverse limb events including major amputation (40 [2%] vs 60 [2%]; HR 0·67, 95% CI 0·45-1·00, p=0·05). The median duration of treatment was 21 months. The use of the rivaroxaban plus aspirin combination increased major bleeding compared with the aspirin alone group (77 [3%] of 2492 vs 48 [2%] of 2504; HR 1·61, 95% CI 1·12-2·31, p=0·0089), which was mainly gastrointestinal. Similarly, major bleeding occurred in 79 (3%) of 2474 patients with rivaroxaban 5 mg, and in 48 (2%) of 2504 in the aspirin alone group (HR 1·68, 95% CI 1·17-2·40; p=0·0043).INTERPRETATION:Low-dose rivaroxaban taken twice a day plus aspirin once a day reduced major adverse cardiovascular and limb events when compared with aspirin alone. Although major bleeding was increased, fatal or critical organ bleeding was not. This combination therapy represents an important advance in the management of patients with peripheral artery disease. Rivaroxaban alone did not significantly reduce major adverse cardiovascular events compared with asprin alone, but reduced major adverse limb events and increased major bleeding