Virtual Currency Law (LAW-795VC-001)
Gerard Comizio
Meets: 06:00 PM - 07:50 PM (Tu) - Warren - Room N102
Enrolled: 21 / Limit: 22
Notices
There are no notices at this time.
Description
This course will explore the emerging legal and regulatory framework and challenges governing virtual currency activities. The advent of virtual currency, beginning with Bitcoin in 2008, has quickly exploded into an emerging financial ecosystem composed of an increasing number and variety of non-government based legal tender. This global emergence illustrates the exciting possibilities for peer-to-peer payment systems, money transmission, mobile payment systems, and investment opportunities not only for purchasers and sellers of virtual currency but also for investors in virtual currency-related business activities. Federal and state regulators are focusing on how virtual currency and related businesses activities generally fit within the framework of “traditional” financial services laws: specifically, how U.S. banking, securities, commodities, money transmission, servicing and licensing, broker-dealer, securities and commodities exchange, anti-money laundering, cybersecurity, UDC and international laws apply to virtual currency business activities. In addition, major central banks are seriously exploring the use of virtual currency and block chain technology to augment or even substitute for paper currency to both enhance payments systems and as a potential tool of monetary policy. Notwithstanding these promising legal, regulatory, technological, business and economic developments, virtual currencies have also raise significant concerns about potential illegal and fraudulent activities related to these currencies, with governments, regulators, and law enforcement authorities increasingly focused on the use of these currencies and their supporting block chain technology/ This focus has been dominated by concerns about, among other things, the use of virtual currency in illegal activities such as narcotics trafficking, terrorism and money laundering activities, customer theft and data privacy breaches. In addition, virtual currencies have also been viewed in some quarters as also either posting existential threats – or helpful adjuncts – to government backed flat currencies and the global economy
Textbooks and Other Materials
The textbook information on this page was provided by the instructor. Students should use this information when considering purchases from the AU Campus Store or other vendors. Students may check to determine if books are currently available for purchase online.
Required Course Materials: V. Gerard Comizio, Virtual Currencies: Growing Regulatory Framework and Challenges in the Emerging Fintech Ecosystem, Chapters 1-10 (book manuscript for 2021 publication);
First Class Readings
Comizio, Virtual Currency, Chapter 1, pp.1-26 (will be available as class materials at MyWCL)
Syllabus
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Microsoft Word 2007 (DOCX)