Virtual currency and european law.

Abstract

Virtual currency and EU law Abstract This thesis focuses on the very topical issue of virtual currencies and European Union law, highlighting their growing importance in the global context. The introduction provides a historical overview of the evolution of money, from primitive barter to modern decentralized finance (DeFi) and virtual currencies. This context allows for a deeper understanding of the role of cryptocurrencies as the latest stage in the evolution of financial systems and how these currencies are transforming traditional concepts of money and financial transactions. The second part of the thesis presents a detailed introduction to the issues of cryptocurrencies, including the technical categorization of digital assets, explanation of the terminology used, and a description of the individual characteristics of cryptocurrencies, including their advantages and risks. The work also addresses the technological foundation of cryptocurrencies, particularly the distributed ledger technology (DLT), cryptocurrency wallets, and the energy intensity of DLT. It introduces the most significant and well-known virtual currencies such as Bitcoin and Ethereum as well as lesser-known altcoins. Special attention is given to the energy intensity of DLT, which is often a hotly debated topic in the context of...