Virtual currency

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 issued by a central bank or a public authority, nor necessarily attached to a fiat currency but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically."^[2] A digital currency issued by a central bank is referred to as a central bank digital currency.

^ Cite error: The named reference ECB was invoked but never defined (see the help page).
^ "EBA Opinion on 'virtual currencies" (PDF). European Banking Authority. 4 July 2014. p. 5. Retrieved 14 January 2022.

[ECB-1] Cite error: The named reference ECB was invoked but never defined (see the help page).

[EBA-2] "EBA Opinion on 'virtual currencies" (PDF). European Banking Authority. 4 July 2014. p. 5. Retrieved 14 January 2022.

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