International Monetary Fund Publishes Paper on Virtual Currencies
The International Monetary Fund (IMF) has published a paper on virtual currencies in January 2016. The paper provides an exhaustive analysis of virtual currencies, covering everything from the basics, to legal and economic perspectives, and regulatory and policy changes among other topics. The paper distinguishes virtual currencies from other digital currencies by describing that “they differ from other digital currencies, such as e-money, which is a digital payment mechanism for (and denominated in) fiat currency. VCs, on the other hand, are not denominated in fiat currency and have their....
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