Digital Currency: An International Legal and Regulatory Compliance Guide

by

Jeffrey H. Matsuura

DOI: 10.2174/97816810822331160101
eISBN: 978-1-68108-223-3, 2016
ISBN: 978-1-68108-224-0



Indexed in: EBSCO.

Digital or ‘virtual’ currencies pose significant challenges for government, financial and legal institutions because of their non-phys...[view complete introduction]
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Traditional Regulation of Currency

- Pp. 13-15 (3)

Jeffrey H. Matsuura

Abstract

National governments apply well-established rules addressing the creation and use of fiat currency used in their countries. Fiat currency is often also described as a nation’s legal tender. It is the national currency, issued and guaranteed by the national government. At present, no nation has established any form of digital currency as its sole form of fiat currency. For this reason, traditional laws governing currency have not been directly applicable to Bitcoin and other virtual currencies.

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