10 Facts About Digital currency

Digital currency is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet.

Digital currency money can either be centralized, where there is a central point of control over the money supply, or decentralized, where the control over the money supply is predetermined or agreed upon democratically.

Several digital currency operations were reputed to be used for Ponzi schemes and money laundering, and were prosecuted by the U S government for operating without MSB licenses.

Virtual currency has been defined in 2012 by the European Central Bank as "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".

Digital currency can be denominated to a sovereign currency and issued by the issuer responsible to redeem digital money for cash.

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The announcement received a variety of responses: some regard it as an attempt of the Chinese government to circumvent US dollars in international banking and settlement of payments, thereby disrupting or weakening America's ability to leverage the dollar as the world Digital currency to pursue its broader geopolitical interests, while others believe it is more about domestic control and surveillance.

Recipients of the Digital currency could make both offline and online purchases, expanding on an earlier trial that did not require internet connection through the inclusion of online stores in the program.

Law passed by the National Assembly of Ecuador gives the government permission to make payments in electronic currency and proposes the creation of a national digital currency.

The Riksbank is planning to begin discussions of an electronic Digital currency issued by the central bank to which "is not to replace cash, but to act as complement to it".

The more anonymous a Digital currency is, the more attractive it is to criminals, regardless of the intentions of its creators.