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A History of Digital Currency in the United States

New Technology in an Unregulated Market

  • P. CarlĀ Mullan

Table of contents

  1. Front Matter
    Pages i-vii
  2. P. Carl Mullan
    Pages 1-18
  3. P. Carl Mullan
    Pages 19-86
  4. P. Carl Mullan
    Pages 87-109
  5. P. Carl Mullan
    Pages 111-152
  6. P. Carl Mullan
    Pages 153-170
  7. P. Carl Mullan
    Pages 171-196
  8. P. Carl Mullan
    Pages 197-204
  9. P. Carl Mullan
    Pages 205-228
  10. P. Carl Mullan
    Pages 229-243
  11. P. Carl Mullan
    Pages 245-260
  12. P. Carl Mullan
    Pages 261-272
  13. Back Matter
    Pages 273-278

About this book

Introduction

This book presents detailed case studies of the first commercial internet digital currency systems developed between 1996 and 2004. Transactions completed with the new technology circumvented all US financial regulations, an opening that transnational criminals exploited. Mullan explains how an entire industry of companies, agents, and participants turned a blind eye to crimes being committed in this unsupervised environment. He then tracks the subsequent changes made to US regulations that now prevent such unlicensed activity, illustrating the importance of supervising products and industries that arise from new disruptive technology. This book distills hundreds of hours of interviews with the creators and operators of early digital currency businesses to create detailed case studies of their practices.

Keywords

virtual currency Securities and Exchange Commission MSB rule Prepaid Access Rule online payments osrecovery douglas jackson james turk business e-business e-commerce economics finance financial history history macroeconomics money organization organizations risk management USA

Authors and affiliations

  • P. CarlĀ Mullan
    • 1
  1. 1.Digital Currency Intelligence Authority Ltd.White StoneUSA

Bibliographic information

  • DOI https://doi.org/10.1057/978-1-137-56870-0
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2016
  • Publisher Name Palgrave Macmillan, New York
  • eBook Packages Economics and Finance
  • Print ISBN 978-1-137-56869-4
  • Online ISBN 978-1-137-56870-0
  • Buy this book on publisher's site