Virtual currency 21, 2014 to customize the rules. The proposal, per NY DFS press release "… sought to strike an appropriate balance that helps protect consumers and root out illegal activity". It has been criticized by smaller companies to favor established institutions, and Chinese bitcoin exchanges have complained that the rules are "overly broad in its application outside the United States". Virtual currency Virtual currency, or virtual money, is 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. The U.S. Commodity Futures Trading Commission
Digital gold currency used to back the digital gold currency it issued. Before the year was out, the 1mdc website was no longer accessible. E-Bullion was a digital-gold currency exchange that had risen, then become defunct around 2008. In August 2008, James Fayed, the owner and chief executive official of the E-Bullion Company, was taken into United States Federal custody to face felony charges of conducting unlicensed money transactions and the murder of his business partner. Shortly thereafter, the website ceased to be available. As a consequence of these charges, by January 2010 the U.S. Government had seized all of the assets of