A Lawyer's Perspective on U.S. Payment System Evolution and Money in the Digital Age

Jess Cheng and Joseph Torregrossa

No 2022-02-04, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Take a close look at something that is widely used by the general public as "money"—a Federal Reserve note, a deposit with a bank, a balance with a nonbank payment company (such as PayPal or Venmo), or perhaps even a cryptocurrency—and ask what it means to use it as a store of value and a medium of exchange. That question is, in essence, a legal one.

Date: 2022-02-04
New Economics Papers: this item is included in nep-ban, nep-mon and nep-pay
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2022-02-04

DOI: 10.17016/2380-7172.2964

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