p. 40723. Electronic money
- Ian J. LloydIan J. LloydFormerly Senior Specialist, HSU, National Research University, Russian Federation and Visiting Professor, Open University of Tanzania
Abstract
This chapter incldes a discussion of the regulation of the issuance and use of electronic money giving particular attention to the emerging technology of cyber-currencies. Initial sector-specific legislation was introduced by the EU in the form of the Directive on the taking up, pursuit of, and prudential supervision of the business of electronic money institutions. In the United Kingdom, the Financial Services and Markets Act 2000 designated the issue of e-money as a ‘regulated activity’ and particular provision to implement a Directive was made. The chapter then turns to the regulation of online gambling. It covers the Gambling Act 2005, licensing of remote gambling activities, and the Remote Gambling and Software Technical Standards.
