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Discussion Paper

A Lawyer's Perspective on U.S. Payment System Evolution and Money in the Digital Age


Abstract: Take a close look at something that is widely used by the general public as "money"—a Federal Reserve note, a deposit with a bank, a balance with a nonbank payment company (such as PayPal or Venmo), or perhaps even a cryptocurrency—and ask what it means to use it as a store of value and a medium of exchange. That question is, in essence, a legal one.

https://doi.org/10.17016/2380-7172.2964

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File(s): File format is text/html https://www.federalreserve.gov//econres/notes/feds-notes/a-lawyers-perspective-on-us-payment-system-evolution-and-money-in-the-digital-age-20220204.htm

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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2022-02-04

Number: 2022-02-04