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
Currency War of 2009–11 that with some countries deliberately devaluing their currencies other countries may retaliate thus causing a "trade war", and he urged Swann to alert "all of these other major countries to the very damaging implications of a currency war". During the IMF meeting there was disagreement based on conflicting views about how to sustain a recovery from the global recession. Countries led by the United States preferred flexible exchange rates, while others, led by China, resisted calls to appreciate their currency. The IMF meeting in Washington DC was inconclusive, as China rejected calls to allow rapid appreciation of its currency. Currency