scholarly journals COMPARATIVE REVIEW OF REGULATORY FRAMEWORK OF VIRTUAL CURRENCY (CRYPTOCURRENCY) IN SELECTED COUNTRIES

2019 ◽  
Vol 35 (4) ◽  
pp. 7-26
Author(s):  
Marcin Kasprzyk

In the era of rapid technological progress, the legislators of individual countries face the challenge of submitting new technological phenomena to the legal framework. The business operation in the field of virtual currencies (cryptocurrencies),widely, in the financial technology sector (hereinafter referred to in as “fintech”), create a chance to attract investors and develop the economy. On the other hand, the same might be misused for illegal purposes, such as, in particular,money laundering or financing of terrorism. This study provides for an overview of the legal regulations of selected states in the field of virtual currencies (cryptocurrencies). Although, presented laws and regulations herein are in favour of thecryptocurrencies, the scope of implemented acts varies significantly.

2020 ◽  
Vol 13 (4) ◽  
pp. 88
Author(s):  
Rafal Lukasiewicz

Legal regulations concerning infertility treatment differ among European jurisdictions. Broadly speaking, three types of gamete donation are distinguished – anonymous donation, identifiable donation, and known donation. However, using only these terms during a debate on international standard of gamete donation is a significant simplification. Even in those jurisdictions in which the same model of gamete donation occurs, the scope of information about a donor that is accessible for a child differs. Moreover, in some jurisdictions, the law permits donors and recipients to choose between two or more types of gamete donation. This paper therefore analyses the extent to which the donor’s data is accessible to a donor-conceived person within these different regimes. It argues that a balanced international standard for data exchange concerning gamete donation could be acceptable for all European countries. This paper concludes that it would be a positive first step to harmonise legal framework of gamete donation in Europe to reach a position that would be acceptable for countries in which donor’s anonymity is protected, as well as in countries in which the donor’s identity is always open for a donor conceived-person.


2021 ◽  
Vol 59 (1) ◽  
pp. 1-22
Author(s):  
Edvard Jakopin ◽  
Aleksandar Gračanac ◽  
Jugoslav Aničić

AbstractThis study of the performance of state-owned enterprises in Serbia has shown that the state has great difficulties managing the enterprises that are in its portfolio and under its control. The adaptation of state-owned enterprises to exogenous shocks unfolds at a slow pace and is faced with many problems. The institutional environment for the strategic restructuring of the state sector is not in the service of strengthening the efficiency of its business operation. The study has shown that the economic performance of state-owned enterprises exerts a direct influence on economic growth, the budget, government balance sheets, and debt. While the “healthy” enterprises (the ones conducting their business successfully) are valuable state-owned property, enterprises with a loss or over indebted enterprises are obligations which demand intervention through the injection of additional capital or through other forms of help from the state. The main goal of restructuring state-owned enterprises is to improve responsibility and efficiency. The array of measures for improving efficiency ranges from modifications of the legal framework and corporate governance of socially owned enterprises (including corporatization and separation of activities) to the sale of property to the private sector or complete privatization. Reforms are aimed at improving the transparency and responsibility of state-owned enterprises, not just for the purpose of efficiency, but also for the purpose of harmonization with the ethical and deontological requirements.


Multilingua ◽  
2019 ◽  
Vol 38 (2) ◽  
pp. 155-168
Author(s):  
Juan Jiménez-Salcedo

Abstract This article analyzes the legislation of the two territories that have the most advanced legal framework regarding language policies towards Catalan: Andorra and Catalonia. The study of the legislation in relation to contexts of social and institutional use shows how this legal framework is not sufficient to change Catalan from being a minoritized language, since the phenomenon of minoritization is innate to the ecosystem in which languages develop. This ecosystem is conditioned by the presence of Castilian as a lingua franca on both sides of the border between Andorra and Catalonia. In the case of Andorra, its status as a cross-border microstate makes it a plurilingual space with Castilian as a socially cross-cutting language; moreover, the fact that until recently there was no network of state schools hindered Catalan language normalisation efforts. Catalonia, on the other hand, is an even more complex example on account of how the implementation of llengua pròpia policy contradicts the constitutional control the Spanish state exercises on this.


Author(s):  
Liviu Crudu ◽  
Radu Bosoancă ◽  
Dan Obreja

The evaluation of ship resistance is of paramount importance having a decisive impact on the economic performances and efficiency depending on mission. If new IMO requirements through the Energy Efficiency Design Index (EEDI) are taken into account the necessity to have more and more accurate tools capable to consider the influences of different parameters became mandatory. The availability of towing tank facilities and the full scale trials are the practical means in order to be able to confirm the accuracy of theoretical formulations and to define the limits of CFD applications. Based on the results of the towing tank tests, a direct comparison with the results provided by classical methods and CFD computations can be systematically can be performed. On the other hand, the influences of the modifications operated on the fore part of the ship aretheoretically evaluated and compared with the towing tank results. Consequently, the paper is focused on the comparison of the results evaluated using different tools which have been carried out for a Chemical Tanker built by Constanta Shipyard Romania.


2019 ◽  
Vol IV (IV) ◽  
pp. 281-290
Author(s):  
Abid Hussain

Pakistan is facing great challenges of terrorism which have posed serious threats towards integrity and stability of the country. It is unanimously agreed that finance serves as lifeline for execution of terrorist activities. Terrorist groups generate funds through multiple sources and transfer them by exploiting the loopholes existing in financial system. Despite, Pakistan has taken sufficient steps to counter the financing of terrorism (CFT), nonetheless, money is still transmitting due to some regulatory flaws of the financial system. Owing to terrorist financing related deficiencies, Pakistan has been placed on the Financial Action Task Force (FATF) “Grey list”. FATF has warned Pakistan to be blacklisted if precipitate actions to address TF related deficiencies are not taken until February 2020. The paper evaluates the present CFT legal framework and recommends certain legal initiatives required to be taken by Pakistan prior dead line of February 2020.


Management ◽  
2020 ◽  
Vol 24 (2) ◽  
pp. 209-235
Author(s):  
Bui Thi Thu Hang ◽  
Dinh Tran Ngoc Huy ◽  
Phan Thuy An ◽  
Nguyen Thi Bich Ngoc ◽  
Huynh Thi My Duyen

SummaryThe research aimed to evaluate suitability of Bitcoin and its platform in emerging markets such as Vietnam. We used qualitative analysis combined with data collection method published, statistics, analysis, synthesis, comparison, to generate qualitative comments and discussion; evaluate results, the article analyzed and evaluated the impacts of Bitcoin and virtual currency on society of Vietnam, both positive and negative sides. It was found that virtual currency not accepted in Vietnam as means of payment yet, while many nations in the world accept it. We need to complete the legal framework for virtual currencies in general, Bitcoin in particular. The State should continue to have policies to improve information technology infrastructure, build and improve the capacity of the contingent of financial experts, encryption, and security experts and give warning risks in virtual currency transactions. The scientific value of paper is using experiences from previous studies in other countries to generate recommendations for conditions of Bitcoin development in merging markets. Last but not least, the research was limited to the case of Vietnam; hence, we can expand research to other Asian countries or other emerging markets.


2017 ◽  
Vol 17 (1) ◽  
pp. 45
Author(s):  
Endre Győző Szabó ◽  
Balázs Révész

A magánélet és a biztonság népszerű ellentétpárként tűnhet fel az adatvédelmi gondolkodásban. Leegyszerűsítve olvashatjuk sokszor, hogy ha bizonyos feltételek hiányoznak, aránytalanul nagy áldozatot hozhatunk a személyes magánszféra, a privacy oldalán a biztonság érdekében, és magánszféránk túlzott feláldozása a biztonság oltárán visszafordíthatatlan folyamathoz és orwelli világhoz vezet. Más, a biztonság szempontjait mindenek felettinek hirdető érvelésben viszont a személyes adatok védelmére való hivatkozást alkotmányjogi bűvészkedésnek csúfolják és igyekeznek kisebbíteni a magánszféra-védelem egyébként méltányolandó értékeit. A magánélet és a személyes adatok védelmének pedig nagy a tétje, az adatok illetéktelenek részére való kiszolgáltatása, rosszhiszemű felhasználása egzisztenciákat, családokat tehet tönkre, boldogulási lehetőségeket hiúsíthat meg, ha a védelem alacsony szintre süllyed. Másrészről pedig az információszerzés, illetve előzetes adatgyűjtés a különböző bűnelkövetések, terrorcselekmények előkészületi cselekményei is egyben. Azzal, ha a személyes adataink, magánszféránk védelmében ésszerű lépéseket teszünk, élünk a jog és a technológia adta védelmi lehetőségekkel, adatainkat nemcsak az államtól és a piaci szereplőktől, de a bűnözőktől is elzárjuk, és ezzel mindannyiunk biztonságát szolgáljuk. Egy terület tehát biztosan létezik, ahol a biztonság és magánszféra mezsgyéje összeér: az adatbiztonságé és ezzel összefüggésben a tudatos, felelős felhasználói attitűdé, aminek azonban sokszor az emberi tényező a gátja. Jelen tanulmányban a magánszféra és biztonság kérdéskörének komplexitásáról szólunk, és közös nevezőt keresünk az adatkezelések nézőpontjából, kitérve az új adatvédelmi rendelet (GDPR) magánszféránkat és biztonságunkat egyaránt szolgáló leendő jogintézményeinek bemutatására is. --- Data in security – security in our data? Privacy and security may be deemed as a popular dichotomy. It is often argued that even if security is vital, we might sacrifice too much of our privacy in return. This may be irreversible when it comes to the intrusiveness of surveillance. On the other hand, it is also sometimes argued that the importance of personal data protection deserves less attention than security. There is much at stake when it comes to privacy and the protection of personal data. Misuse of personal information may damage families’ lives and ruin people’s livelihoods, thus this may all have significant repercussions for society as a whole – this is the price to be paid if protection is at a low level. Using sophisticated measures that technology and legal regulations can provide, privacy can be protected. Data security is a common field for the protection of privacy and security – crucial for both endeavours to make people’s lives better. This essay describes the complexity of issues related to privacy and security, while also taking new legislation of the European Union into account.


2020 ◽  
Vol 3 (2) ◽  
pp. 17
Author(s):  
Rezana Balla

Under the restricted measures due to the global pandemic Covid-19, like all other services, financial services had difficulties in performing their financial activities. These difficulties are stronger at countries where financial services are denied for a long time. Financial services denial is an issue that has affected not only Albania but small Balkan countries as well. The reasons for this denial are many, but among them we can distinguish the lack of credit experience, as one of the common reasons to be excluded in these countries from the development of the financial sector. Currently, one of the reasons for the financial denial is the emergency created by Covid-19, where physical distancing and other measures taken by governments to restrict movement and services make financial service impossible. Thus, one of the most effective ways to perform financial services remotely is financial technology. Financial technology refers to the possibilities of financial innovation through technology that can result in new business models, applications, processes, or products with an effectiveness related to financial markets and institutions and the provision of financial services. This paper aims to present the challenges of the legal framework and regulatory institutions, to provide recommendations for its improvement, to enable the development of financial technology in the financial market in Albania. The paper address issues such as the Bank of Albania's consideration on the Directive (EU) 2015/2366 On Payment Services (PSD II). What benefits or challenges would its implementation bring? How is the financial industry projected after the implementation of PSD II? What are the biggest job challenges with payment institutions that have not been to the market before or that bring technology innovations? The paper addresses the issue of money laundering through online digital transactions as well.


Sign in / Sign up

Export Citation Format

Share Document