DIGITAL COUNTERFEITING: STATES REGULATION OF FEDERAL, FOREIGN & DIGITAL FINANCIAL INSTRUMENTS USED AS CURRENCY

Ralph E. McKinney, Jr. Aston University, Birmingham, UK
Lawrence P. Shao, Marshall University, Huntington, WV, USA
Dale H. Shao, Marshall University, WV, USA
Duane C. Rosenlieb, Jr., Esquire, WV, USA
Published in

 EUROPEAN JOURNAL OF BUSINESS RESEARCH
Volume 13, Issue 3, p5-12, October 2013

ABSTRACT

The relatively recent appearance of Internet-based transactions necessitated the develop of digital forms of payment. These payments have evolved into various forms, including digital currency. This paper discusses the regulatory authority and/or lack of authority, of the sovereign States of the United States to regulate the counterfeiting of financial instruments used as currency, including digital currency. Federal and Foreign (non-U.S.) currencies are explicitly examined. Some digital currencies are not regulated or authorized specifically by a government. Can a currency without formal codification from a government be regulated by a State? As financial transactions have shifted historically from various governments’ legal tender to combinations of government and private issuances and from the hard currency of coins and paper to electronic transactions, many States’ counterfeiting statutes are unclear or fail to consider that technological changes can impact legal and common tender. The rise in transactions being facilitated in digital currencies and regulations protecting states from digital counterfeiting is examined and discussed.

Keywords

Financial instruments, fiscal policy, currency, monetary policy, digital currency, counterfeiting.


About the Article

Abstract, Keywords, Page Numbers, etc

About the Journal

Managing Editors, Indexing, Best Practices

About The Publisher

History, Partners, Conferences

Access the Full Article

Log-in to IABE to access full article

Search IABE

Search IABE's articles by Title, Author, or keyword

Contact Us

Send a message to IABE

Organization

Publishing Partners

Indexing Partners