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Regulation of Digital Currencies in Terms of Examining the Available Policies and Regulations and the Development of Models Adequate for Protecting the Users and Preventing Illegal Activities

Author

Listed:
  • Artur UCOLOV

    (Dunarea de Jos University of Galati, Romania)

  • Alina-Florentina SARACU

    (Dunarea de Jos University of Galati, Romania)

Abstract

The increasing use of digital currencies has drawn attention to the need for strict rules to protect consumers and prevent illegal activities. The article will give an overview of existing rules and regulations in terms of certain global perspectives (China, US, EU, etc.) relevant to digital currencies, in addition to setting appropriate models to deal with the difficulties and opportunities presented by this new technology. The report analyzes the regulation environment for digital currencies, weighing the benefits and inconveniences of the current legislation and highlighting the fields that require reform. The paper provides a framework for effective regulation of virtual currencies that incorporates innovation and risk management, protects the interests of all stakeholders and relies on the best global practices. Moreover, it will be carried out a detailed analysis of the differences between Centralized Digital Currency (CBDC) and Decentralized Digital Currency (Cryptocurrencies).

Suggested Citation

  • Artur UCOLOV & Alina-Florentina SARACU, 2023. "Regulation of Digital Currencies in Terms of Examining the Available Policies and Regulations and the Development of Models Adequate for Protecting the Users and Preventing Illegal Activities," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 181-186.
    • Handle: RePEc:ddj:fseeai:y:2023:i:2:p:181-186
    DOI: 10.35219/eai15840409353
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