Virtual Currencies: Can Regulators Keep Pace?

Abstract

Innovation represents the dominant tendency when it comes to solving modern needs; to this extent things have evolved at an outstanding pace and are yet to be settled. The new paradigm is also applying to the payment behavior where the old barter exchanges are nowadays replaced by transactions with digital- conventional sources of value named virtual currencies. Even though progress represents the desiderate for wealth, the process per se creates vulnerabilities due to its dynamics. Along with innovation, social elements such as criminality or economic realities like enhanced competition are in the loop for a coherent regulatory answer.