Abstract
The Internet sparked the growth of a new financial industry filled with innovative online products known as digital currency. This modern method of transferring value online allowed for the global movement of funds outside existing regulated financial channels. From 1996 through 2006, millions of people were allowed to send and receive digital currency beyond the supervision of any government agency or bank regulations.
Of the nine digital currency companies profiled in this book, that operated during 1996 through 2006, only two of the companies are still in operation. Because of criminal activity and related to US state and federal money transmitter regulations, seven of the businesses were closed.
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Mullan, P.C. (2016). Introduction. In: A History of Digital Currency in the United States. Palgrave Advances in the Economics of Innovation and Technology. Palgrave Macmillan, New York. https://doi.org/10.1057/978-1-137-56870-0_1
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DOI: https://doi.org/10.1057/978-1-137-56870-0_1
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Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-137-56869-4
Online ISBN: 978-1-137-56870-0
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