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What are substitutes for domestic money and what is their legal regime? Abstract The thesis deals with the position of substitutes for domestic money in the Czech legal system and the phenomenon of substitutes for state money in general. The work is divided into three parts, in the first the author analyzes the current legal regulation of domestic money substitutes in the Czech legal system, concluding that the current regulation is clearly obsolete, while its interpretation by modern legal science is considered not only restrictive but also very formalistic, and thus not completely fulfilling the role set desired by original legislator. At the end of the first part, the author concludes that some selected forms of non-state money (especially corporate money and LETS systems) correspond to the current concept of substitutes for domestic money, but they can not be considered part of modern economic reality. In the second part, the author analyzes modern forms of non-state money with a focus on cryptocurrencies, as the most relevant form of non-state money. The author describes the gradual development and acceptance of virtual currencies both from the perspective of European regulators and from the perspective of their real economic use. The author concludes that a significant part of virtual currencies falls... |
