Affiliation:
1. 1 Research Scholar (PhD), VIT-AP School of Law , VIT AP University , India
2. 2 Dean and Professor, VIT AP School of Law , VIT-AP University , India
Abstract
Abstract
Summary
The COVID-19 pandemic experience has driven us to rely on technology so much on the development and expansion of technology, including cashless transactions. Criminal groups may become more interested in electronic payments and virtual currencies because of increased traffic in these areas. When comparing the second half of the 2019 to the first half of the 2020, the number of fraudulent card transactions increased by 11.4%. New developments in virtual currency trading regulations, including the digital finance package, which includes, among other things, a draught regulation from the European Parliament and an amended act to combat money laundering and terrorist financing, among others. For the reasons stated above, these regulations may lead to a virtual currency market collapse and the withdrawal of investors and the siphoning of money into Asian markets as a result. The current regulations are a manifestation of total regulation and do not encourage technological advancement.
Subject
Law,General Economics, Econometrics and Finance,Political Science and International Relations
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