Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Electronic Money And The Law: Legal Realities And Future Challenges, Nobuhiko Sugiura, Jean J. Luyat
Electronic Money And The Law: Legal Realities And Future Challenges, Nobuhiko Sugiura, Jean J. Luyat
Washington International Law Journal
The following is a translation of Electronic Money and the Law: Legal Realities and Future Challenges, an essay written by Professor Nobuhiko Sugiura in the August 1, 2008 issue of the Japanese periodical Jurisuto. Stored-value cards are growing rapidly in urban areas in Japan, to a degree where they are beginning to challenge cash as a primary method of payment. In this article, Professor Sugiura outlines the growth of stored-value cards, how stored-value cards should be defined, legal structures that currently regulate stored-value cards, and how growth and technological development are likely to affect that legal structure. As Japan’s takes …
A Tale Of Regulation In The European Union And Japan: Does Characterizing The Business Of Stored-Value Cards As A Financial Activity Impact Its Development?, Jean J. Luyat
Washington International Law Journal
The use of stored-value cards is growing rapidly in urban areas in Japan and gaining acceptance as a major means of payment. While institutional and cultural factors as well as business strategies go far in explaining the rapid growth of stored-value cards in Japan, regulation has also played an important role in enabling their use. In Japan, the regulation of stored-value cards has been mostly left to the Prepaid Card Law, which provides a comparatively simple regulatory framework with flexible capital requirements. The European Union (“EU”) and France provide a compelling counter-example to Japan; the EU has pursued a different …