# Are Voucher currencies exposed to regulatory risk? Every currency is exposed to regulatory risks, however some less so than others. The regulatory environment for stable-coins is in its early stages of development. In many jurisdictions the market is lagging behind with putting the proper controls in place. VOW does not fall under the newly forming regulatory controls as it does not claim to be a stable coin, nor form of money, nor make any promises to its holders. Voucher currencies, in and of themselves do not represent a unit of value but rather the inverse, a unit of discount against goods and services sold and hence fall outside of such regulations. Voucher currencies are not emoney as no End User pre-pays for them. They are given free to people whilst they shop! --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://vow-2.gitbook.io/white-paper/frequently-asked-questions/are-voucher-currencies-exposed-to-regulatory-risk.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.