As per Wikipedia...
Virtual currency, also known as virtual money, is a type of
unregulated,
digital money, which is issued and usually controlled by its developers, and used
and accepted among the members of a specific
virtual community. The
Financial Crimes Enforcement Network
(FinCEN), a bureau of the US Treasury, defined virtual currency in its
guidance published in 2013. 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".
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