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Decentralized virtual currency

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Definition Edit

A decentralized virtual currency (also called cryptocurrency) is

distributed, open-source, math-based peer-to-peer virtual currencies that have no central administrating authority, and no central monitoring or oversight.[1]

Overview Edit

Examples include Bitcoin; LiteCoin; and Ripple.

References Edit

  1. Virtual Currencies: Key Definitions and Potential AML/CFT Risks, at 5.

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