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From a legal perspective, money is anything that is used widely to exchange value in transactions. In a more conceptual sense, a particular currency refers to the specific form of money that is in general use within a country. Given that VCS are not used widely to exchange value, they are not legally money, and — in the absence of minted versions — they are not currency either, and no virtual currency is a currency.
When further exploring the legal nature of virtual currency and VCS, the following concepts and notions are important as well.
For the acceptance of money for payments, only euro banknotes and coins are legal tender in the countries of the euro area and therefore, by law, must be accepted as payment for a debt within those countries. Scriptural money, or bank money, in euro and electronic money e-money in euro are not legal tender.
Nevertheless, these forms of money are widely accepted for all kinds of payments by choice. The euro as a currency may therefore take the form of banknotes, coins, scriptural money and electronic money.
For the execution of its tasks in the field of payment systems, the ECB does not see the need to amend or expand the current EU legal framework. Central bank cryptocurrencies. Belinky, M. The fintech 2. Distributed ledger technology in payment, clearing and settlement. Bitcoin FAQ. Blockchain Technologies. Blockchain technology explained.
Bott, J. Central bank money and blockchain: A payments perspective. Burgos, A. Distributed ledger technical research in Central Bank of Brazil. Carney, M. Casey, M. Central bank of Iceland. Seminar on possible new forms of central bank money. Chapman, J. Project Jasper: Are distributed wholesale payment systems feasible yet?
Cleland, V. Digital future for sterling: Assessing the implications. Creer, D. Proving Ethereum for the clearing use case. Czech National Bank. Position of the Czech National Bank to the selected questions of the Commission consultation. Daniell, J. Estonia explores national digital currency with token offering proposal ETHNews. Danmarks Nationalbank. Danes are front-runners in electronic payments. Analysis, 6 , 8.
Das, S. Dutch Central Bank prepares its boldest blockchain experiment yet CoinDesk. Deutsche Bundesbank. Distributed ledger technologies in payments and securities settlement: Potential and risks. Monthly report. Bank of Korea, R3 consortium to carry out blockchain project EconoTimes. Federal Reserve System. Federal Reserve next steps in the payments improvement journey. Fiennes, T. Toby Fiennes: The Reserve Bank, cyber security and the regulatory framework. Furche, P. FinTech and the future of central banking.
Financial innovation in the digital age: Challenges for regulation and supervision. Revista de Estabilidad Financiera, 32, Hearn, M. Corda: A distributed ledger. Hiesboeck, M. Blockchain is the most disruptive invention since the Internet itself - not just in finance Digital Doughnut.
Higgins, S. Hileman, G. Global blockchain benchmarking study. Applications of blockchain technology to banking and financial sector in India. Khrennikov, I. Kitchenham, B. Keele, Staffs, and Durham, UK. Koranyi, B. Lane, P. Philip R Lane: Drivers of change in the banking sector. Levring, P. Blockchain lures central banks as Danes consider minting e-krone Bloomberg. Marty, B. Project Ubin: SGD on distributed ledger.
Meola, A. How banks and financial institutions are implementing blockchain technology Business Insider UK. Mesropyan, E. Mills, D. Distributed ledger technology in payments, clearing, and settlement. Nakamoto, S. Bitcoin: A peer-to-peer electronic cash system. National Bank of Belgium.
National Bank of Belgium Report - Prudential regulation and supervision. Nicolaisen, J. Jon Nicolaisen: What should the future form of our money be? Origins of the central bank. Powell, J. Jerome H. Powell: Innovation, technology, and the payments system.
New Haven. Global FinTech Report Why a digital euro?
Report on a digital euro. What are other benefits of a digital euro? We need to make sure that our currency is fit for the future. Inaction is not an option. What might it look like? Functional design possibilities. Will the ECB manage a digital euro?
Careers Take a central role at the Bank of Canada with our current opportunities and scholarships. APIs can also provide user-friendly interfaces that make using the technology easier for a broader set of potential users. U kunt dit veld ook leeg laten voor de volledige lijst. Given that VCS are not used widely to exchange value, they are not legally money, and — in the absence of minted versions — they are not currency either, and no virtual currency is a currency. Submit ICO Review.
Technical and organisational approaches. Why would a digital euro not be a crypto-asset? Explainer: What is bitcoin? A new horizon for pan-European payments Payments are undergoing a fundamental change, and central banks have a key role to play in this process. Have a look at the highlights from the ECB conference. A digital euro for the digital era A digital euro would be a digital symbol of progress and integration in Europe, said Executive Board member Fabio Panetta when presenting the report on a digital euro. Watch the hearing at the European Parliament. Thanks for sharing your opinion! ECB digital euro consultation ends with record level of public feedback.
The ECB Podcast: is it time for a digital euro? More available in English only. The impact of a digital euro on the financial system 09 February Fabio Panetta: Interview with Der Spiegel 2 December Fabio Panetta: Money in the digital era 30 November Christine Lagarde: The future of money — innovating while retaining trust 27 November Fabio Panetta: From the payments revolution to the reinvention of money 04 November Fabio Panetta: The two sides of the stable coin 22 October Fabio Panetta: A new horizon for European payments 12 October Fabio Panetta: A digital euro for the digital era 2 October Fabio Panetta: We must be prepared to issue a digital euro 12 September Christine Lagarde: Payments in a digital world.
Find the answers to all your questions FAQs on digital euro. More information on a central bank digital currency Report on a digital euro. All pages in this section. Are you happy with this page?
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