Chapter D1 Flashcards

1
Q

True / False: Virtual currencies are nearly impossible to trace.

A

True.

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2
Q

True / False: According to the European Court Justice Ruling, virtual currencies are not tangible property.

A

True.

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3
Q

The downsides of smart contracts include:

A

privacy and transparency concerns,

the need for continuous updates

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4
Q

An advantage of considering virtual currencies as money is…

A

the avoidance of credit fees to merchants,

the avoidance of third parties

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5
Q

Which of the following is/are (an) issue(s) of virtual currencies affecting investors and consumers?

A

Displacement of national currencies,
Tax aspects,
Potential fraud

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6
Q

Due to which factors are virtual currencies adopted by criminal elements?

A

Anonymity,

Missing of law enforcement regulations

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7
Q

According to ESMA, risks of DLT to securities markets within the EU consist of:

A

regulatory and legal issues,

technological issues

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8
Q

The function of the E.U. Blockchain Observatory and Forum is to…

A

consolidate expertise,

cooperate with existing EU states’ and businesses’ initiatives

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9
Q

True / False: Virtual currencies can be considered as fiat money.

A

False
BC –> Fiat money is a currency established as money, often by government regulation, that does not have intrinsic value.

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10
Q

Some organizations dealing with the regulation or issues of virtual currencies are:

A

G20,
United Nations,
European Court Justice Ruling

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