Volume 11 Issue 1

Electronic Money regulation: a comparative survey of policy influences in Australia, the European Union and the United States of America

OLUJOKÈ E. AKINDEMOWO*

The benefits and risks of the introduction of the use of electronic money products are a matter of concern for financial system regulators, and have sparked an international debate on the need for, method and extent of electronic money regulation. Three divergent approaches have been adopted in the United States, the European Union, and Australia to this question. The differences in approach stem from the different priorities accorded identified objectives, as well as the effect of unique national influences. Policy similarities may however be strengthened as a result of trends towards globalisation or international congruence.

o.akindemowo@uws.edu.au; http://www.uws.edu.au/vip/oakindem. Acknowledgment is made of a UWS (Nepean) Seed Grant which made a significant portion of the research underlying this article possible.