Digital currency destabilizing effect on the Chinese Yuan currency due to speculation. Recent interest in cryptocurrencies has prompted renewed interest in digital currencies, with bitcoin, introduced in 2008, becoming the most widely used and accepted digital currency. According to the European Central Bank's 2015 "Virtual currency schemes – a further analysis" report, virtual currency is a digital representation of value, not issued by a central bank, credit institution or e-money institution, which, in some circumstances, can be used as an alternative to money. In the previous report of October 2012, the virtual currency was defined as a type of unregulated, digital money,
Currency War of 2009–11 relaxing some of Brazils anti-appreciation controls. Alarms were raised concerning a possible second 21st currency war in January 2013, this time with the most apparent tension being between Japan and the Euro-zone. Following the financial crisis of 2008 widespread concern arose among advanced economies concerning the size of their deficits; they increasingly joined emerging economies in viewing export-led growth as their ideal strategy. In March 2009, even before international cooperation reached its peak with the 2009 G-20 London Summit Economist Ted Truman became one of the first to warn of the dangers of competitive devaluation breaking out. He also coined