Virtual currency Financial Services. The Internet currency Flooz was created in 1999. The term "virtual currency" appears to have been coined around 2009, paralleling the development of digital currencies and social gaming. Although the correct classification is "digital currency", the U.S. government prefers and has uniformly adopted the term "virtual currency". The U.S. Treasury's FinCEN was first, followed by the FBI in 2012, the General Accounting Office in 2013, as well as the government agencies testifying at the November 2013 U.S. Senate hearing on bitcoin, including the Department of Homeland Security, the Securities and Exchange Commission, the Office of the Attorney General.
Central Bank Digital Currency the central banks for all citizens. Digital fiat currency is currently being studied and tested by governments and central banks in order to realize the many positive implications it contributes to financial inclusion, economic growth, technology innovation and increased transaction efficiencies. Here is a list of potential advantages: A general concern is that the introduction of a CBDC would precipitate potential bank runs and thus make banks' funding position weaker. Central Bank Digital Currency Central bank digital currency (CBDC, also called "Digital Fiat Currency" or "digital base money") is the digital form of fiat money which is a currency established