Digital Currency in Broader Sense, Status, Regulation and Development Trends

Miroslav Štrkolec; Ladislav Hrabčák

Digital Currency in Broader Sense, Status, Regulation and Development Trends

Publication date: 31.03.2021

Financial Law Review, 2021, Issue 21 (1)/ 2021, pp. 62 - 79

https://doi.org/10.4467/22996834FLR.21.005.13288

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Digital Currency in Broader Sense, Status, Regulation and Development Trends

Abstract

The present article deals with one of the phenomena of the Industrial (Digital) revolution 4.0, which is digital currency in broader sense, respectively virtual currencies, as some authors refer to them. Despite the fact that this phenomenon is not such a novelty in society, it has demanded the focus of legal science only in recent years and the discussion has not subsided, it can be stated that it is only in the beginning. Along with digital currency in broader sense, there are several issues, such as the correctness of their naming, their legal status and, as far as the area of tax law is concerned, these are also questions of the manner and possibilities of taxing transactions with them. Authors set as a goal of this article to verify the following hypotheses:

- the naming of digital currency in broader sense as a currency is incorrect given the existing knowledge of financial law science.

- the legal regulation of digital currency in broader sense in selected Member States of the European Union is not sufficient.

To verifying the above hypotheses, the authors used several methods of writing scientific works, but especially analysis, synthesis, the method of comparison and the historical method, which the authors used in combination with each other.

Keywords

digital revolution., tax, law, tax law, digital currency in broader sense, digital tax

References

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Information

Information: Financial Law Review, 2021, Issue 21 (1)/ 2021, pp. 62 - 79

DOI: https://doi.org/10.4467/22996834FLR.21.005.13288

Article type: Original article

Authors

Miroslav Štrkolec

https://orcid.org/0000-0001-8712-1945

Department of Financial Law, Tax Law, and Economics Pavol Jozef Šafárik University in Košice, Faculty of Law.

Ladislav Hrabčák

https://orcid.org/0000-0002-4670-3399

Faculty of Law, Pavol Jozef Šafárik University in Košice in the Slovak Republic

Published at: 31.03.2021

Article status: Open

Licence: CC BY-NC-ND

Percentage share of authors:

Miroslav Štrkolec (Author) - 50%

Ladislav Hrabčák (Author) - 50%

Classification number:

JEL Classification System:

Tax Law (K34)

Article corrections:

Publication languages:

English

View count: 592

Number of downloads: 909

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