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Today, micropayments are not as popular as they used to be. Buying coffee isn’t the only application of bitcoin micropayments. The report provides a comprehensive analysis of the supply and demand relationship between consumers and mobile digital devices, it points out the opportunities and challenges that operators, equipment manufacturers, application developers and enterprises in mobile telecom industry are facing. Article 6 provides for compliance checks by competent authorities on own funds and investments. Much of the existing academic commentary traces the genesis of the EU’s Electronic Money Directives (Batalla 2001; Chuah 2000; and Vereeken 2000), or provides detailed accounts of subsequent Member State implementations (for the UK see Long & Casanova 2002 and 2003; and, more recently, Bamodu 2003). What is still missing is a comparative, international analysis of these efforts as well as a second-level questioning of the value of these efforts. The criterion in (iii) is designed to demarcate ‘electronic money’ in the EU’s definition from similar products such as tube tickets, phone cards, photocopy cards and ski passes, most of which are only accepted by one party – the issuer herself.
The UK government chose this particular construction because it (rightly) thought that implementing (ii) in full would create a legislative loophole where institutions that issue tokens with a greater monetary value than the funds received in return would not, contrary to the EU’s intentions, be subject to the Directive’s regulatory framework. Right now it is […]