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Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. [1] In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither ...
United States virtual currency law is financial regulation as applied to transactions in virtual currency in the U.S. The Commodity Futures Trading Commission has regulated and may continue to regulate virtual currencies as commodities. [1][2] The Securities and Exchange Commission also requires registration of any virtual currency traded in ...
Bitcoin wallets were the first cryptocurrency wallets, enabling users to store the information necessary to transact bitcoins. [86][8]: ch. 1, glossary The first wallet program, simply named Bitcoin, and sometimes referred to as the Satoshi client, was released in 2009 by Nakamoto as open-source software. [7]
Many banks do not offer virtual currency services themselves and can refuse to do business with virtual currency companies. [238] In 2014, Gareth Murphy, a senior banking officer, suggested that the widespread adoption of cryptocurrencies may lead to too much money being obfuscated , blinding economists who would use such information to better ...
Virtual money (or in-game currency) is used to purchase virtual goods within a variety of online communities, which include social networking websites, virtual worlds and online gaming sites. A key revenue driver within social media , virtual currencies are specific within each game and are used to purchase in-game goods.
Digital currency. Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency.
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