Evaluating the security of electronic money

Abstract

After defining electronic money it is explained that the Dutch policy stance with respect to electronic money is that issuing value is seen to be equivalent to deposit taking and therefore subject to supervision. As a result the Dutch central bank actively monitors developments with respect to electronic money and reviews the schemes under the rules of the supervision law. The most important findings of the BIS-report on security of electronic money are summarized and an overview is given of issues that could be studied as a part of the review of an electronic money scheme.