Crypto Assets In Corporate Insolvency In Cyprus

Currency is a significant expression of state power in the public sphere. It determines the capacity of the state to project power through its external economic relationships and trade agreements. There is also an internal aspect where power is expressed through regulating the relations between private market players, including their credit arrangements, underpinned by a legal framework based on consistent principles.

Throughout modern history, credit systems have functioned based on traditional monetary rules that have followed the same patterns. In other words, the economics entailed by the use of currencies as a means of payment provided a level playing field for the unravelling of all economic relationships, both external and internal.