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Law regulation of banknotes and coins circulation in the Czech Republic
Vrba, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
This thesis focuses on the law regulation of the paper currency, coins and money circulation in the Czech Republic. It is divided into six chapters. The first chapter is intended to introduce the issue of the currency to a reader by explaining the concept of money, currency, legal tenders and related matters. It describes also the process of money creation and historical evolution of money in the world and within the Czech Republic as well. The second chapter examines the current law regulation regarding to the currency and the money circulation in the Czech Republic. It provides brief explanation of source of law concept and specifies the fundamental legal regulations relating to the currency and money circulation. The third chapter is concentrated on the role of the Czech national bank as the central bank of the Czech Republic. The fundamental activities performed by the Czech national bank upon the laws, such as the issuance of the fiat money and the management of the circulation of currency, are discussed in this chapter. The fourth chapter is dedicated to the Czech coinage. The chapter describes structure of currency in circulation in the Czech Republic, reveals what is the legal tender in the Czech Republic and identifies certain loophole (error in law) in the regulation regarding the...
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Blockchain at the European Level
Drašković, Teodora ; Kunertová, Tereza (advisor) ; Vondráčková, Aneta (referee)
Blockchain at the European Level Abstract The objective of this master thesis is to provide a basic overview of the blockchain technology, its features and its potential utilization, including an overview of European legal regulations that might be applicable to the technology, under certain conditions. In the first chapter, the master's thesis sets forth the legal framework of the EU primary law that establishes or can establish the EU's competence to act in the matters of blockchain technology, depending on its legal qualification (especially in the context of the internal market - namely the free movement of services and capital). The second and third chapters provide essential description of features of blockchain and cryptocurrency and related services. A more detailed description is provided in Annexes I-IV of this thesis. Further, the legal status and applicable regulation of cryptocurrencies are assessed at the European and national levels and in terms of other global jurisdictions. The assessment also includes the recent CJEU's judgment in the case Hedqvist, according to which bidirectional exchange services (purchase of cryptocurrency for fiat currency and vice versa) are to be exempted from VAT obligation under the VAT directive. In line with the CJEU's reasoning and the Advocate General's...
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Law regulation of banknotes and coins circulation in the Czech Republic
Vrba, Jan ; Kotáb, Petr (advisor) ; Kohajda, Michael (referee)
This thesis focuses on the law regulation of the paper currency, coins and money circulation in the Czech Republic. It is divided into six chapters. The first chapter is intended to introduce the issue of the currency to a reader by explaining the concept of money, currency, legal tenders and related matters. It describes also the process of money creation and historical evolution of money in the world and within the Czech Republic as well. The second chapter examines the current law regulation regarding to the currency and the money circulation in the Czech Republic. It provides brief explanation of source of law concept and specifies the fundamental legal regulations relating to the currency and money circulation. The third chapter is concentrated on the role of the Czech national bank as the central bank of the Czech Republic. The fundamental activities performed by the Czech national bank upon the laws, such as the issuance of the fiat money and the management of the circulation of currency, are discussed in this chapter. The fourth chapter is dedicated to the Czech coinage. The chapter describes structure of currency in circulation in the Czech Republic, reveals what is the legal tender in the Czech Republic and identifies certain loophole (error in law) in the regulation regarding the...
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Competing currencies as an alternative scenario to legal tender clause: Mathematical proof
Gawthorpe, Kateřina ; Stroukal, Dominik (advisor) ; Nikolovová, Pavla (referee)
Previous literature examining the scenario without the constraint of legal tender law is a rather theoretical analysis of the subject matter. Aside from the theoretical examination of the competition of money this paper offers dynamic structural macroeconomic model based on the money in the utility function. This model compares the current monetary conditions with the potential situation permitting more currencies circulating alongside. The main assumption about individuals' preferences over stable currencies underlines the whole paper with emphasis on the mathematical model. The uniqueness of this model lies in the incorporation of variables affecting respective money demand functions into the utility function of the DSGE model and in the purpose of its use as well as its variables, where representative agent is a household owning a bank rather than a firm. Overall the results of this paper favor the idea of exclusion of the legal tender law in a developed country without severe turmoil. Particularly, the ascent of competition among currencies leads to lower inflation than present scenario. However, final simulations of the model in Matlab supplements such so far "unambiguous" view with skepticism due to possible difficulties during discovery process in such scenario.
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Citizens on Adoption of Euro - June 2011
Červenka, Jan ; Sojková, T.
According to the June survey of Public Opinion Research Centre, only 21% of Czech citizens approve the adoption of euro as legal tender in the Czech Republic, 68% oppose it. Since April 2010 a support for adoption of euro fell by 17%, while share of disapproval increased by 13%.
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