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What is Virtual Currency

Chapter 5
COVID-19's Impact on the Cryptocurrency Market and the Digital Economy
A digital currency, issued and controlled by a private issuer, functions as a medium of exchange.
Published in Chapter:
Examining the Impact of COVID-19 on Cryptocurrency Enforcement in the United States
Leo S. F. Lin (The University of Southern Mississippi, USA)
Copyright: © 2022 |Pages: 17
DOI: 10.4018/978-1-7998-9117-8.ch005
Abstract
This chapter examines how COVID-19 has impacted cryptocurrency enforcement at the state level. This author employs a qualitative single case study method and investigates the cryptocurrency enforcement actions of the United States Securities and Exchange Commission (SEC) in 2020. The data were collected from SEC cryptocurrency press releases and public statements. The US Securities and Exchange Commission (SEC) has brought 28 enforcement actions against companies and individuals in the crypto industry in 2020 regarding the three types of cryptocurrency enforcement actions and trading suspensions (trading suspension, litigation, and administrative proceeding). Among them, litigation is the most common type of cryptocurrency enforcement action taken by the SEC. This author concludes that the law enforcement agencies in the United States faced several challenges before and during the pandemic. Finally, the author suggests some measures that law enforcement agencies can take to address the above challenges.
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Chapter 116
Virtual Commerce
Currency for use in virtual worlds that is accumulated through activity in the virtual world, through purchase using some form of currency exchange, or as a reward for consumer activity in the physical world. It can sometimes be exchanged for physical world currency through exchanges or other trade mechanisms.
Published in Chapter: Virtual Commerce; From: Encyclopedia of E-Business Development and Management in the Global Economy
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Chapter 5
A View on the Impact of Gamified Services in the Wake of the COVID-19 Pandemic: An Interdisciplinary Approach
Virtual currency is a sort of digital currency, although it may not necessarily have all of the properties of real money. In the context of gamification, virtual currency refers to both non-standard virtual money used while playing the game and a money point system with some monetary worth.
Published in Chapter: A View on the Impact of Gamified Services in the Wake of the COVID-19 Pandemic: An Interdisciplinary Approach; From: Handbook of Research on Cross-Disciplinary Uses of Gamification in Organizations
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Chapter 4
Regulatory Ambiguity in India: A Breeding Ground for Crypto Criminals
Virtual currency is a type of unregulated digital currency. It is not issued or controlled by a central bank. Examples of virtual currencies include Bitcoin, Litecoin, and XRP.
Published in Chapter: Regulatory Ambiguity in India: A Breeding Ground for Crypto Criminals; From: Concepts and Cases of Illicit Finance
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Chapter 8
Legal Risks and Challenges Related to Virtual Currencies
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.
Published in Chapter: Legal Risks and Challenges Related to Virtual Currencies; From: Fostering Innovation and Competitiveness With FinTech, RegTech, and SupTech
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