Abstract
The present study presents the theme of scriptural credit bonds based on a reinterpretation of the principles of credit bonds, notably Cartularity, Documentability and Functional Equivalence, considering their electronic circulation system. The regulation of exchange rate circulation is scrutinized in a written manner, instrumentalized by technologies, despite the mismatch between the legislative tool, technological evolution and the apparent conflict between the aforementioned principles of credit bonds. The aim is to verify whether the demand of the economic agents involved in the exchange rate relationship is effectively being met; confirming or refuting the negative premise posed to the questions whether such principles were suppressed, as well as whether the circulation of credit securities in book-entry form justifies a possible revocation of the guidelines that regulate the issuance of certificated securities. Inquiring into the hypotheses characterized by the negative nature of the inquiries, in the end, it appears that there was no suppression of the circulation of credit securities in written form nor the revocation of the determinations that regulate the issuance of certificates of exchange securities.
Published Version
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