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Definition Edit

An exchanger (also called a virtual currency exchange) is

a person or entity engaged as a business in the exchange of virtual currency for real currency, funds, or other forms of virtual currency and also precious metals, and vice versa, for a fee (commission).[1]

Overview Edit

Exchangers generally accept a wide range of payments, including cash, wires, credit cards, and other virtual currencies, and can be administrator-affiliated, non-affiliated, or a third party provider. Exchangers can act as a bourse or as an exchange desk. Individuals typically use exchangers to deposit and withdraw money from virtual currency accounts.[2]

References Edit

  1. Virtual Currencies: Key Definitions and Potential AML/CFT Risks, at 7.
  2. Id.

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