Risks Management of Virtual Currencies and Financial Insurance Challenges

Abstract

The study aimed mainly to examine the risks of virtual currencies and the challenges of financial insurance they encounter. Where, the study explored the most important components that affect the management of encrypted currencies risks including operational risks. While taking into account BASEL standard II/III in reducing the intensity of insurance compensations risks consequential on virtual currencies. Design/methodology/approach The study composed of a comprehensive review for the management of virtual currencies risks then it considered some references which tackled this subject then moving on to illustrate the mechanism of data collection and assessment of risks down to the findings. Methodology used the descriptive inductive approach through the analysis of data and information made available to the subject matter of study. Yet, as for the approach applied it was about taking a specimen from the virtual currencies to study the risks, wherein the specimen represented from (100) virtual currency out of (2079) currency allotted over (14641) market around the world.