Virtual currency is a digitally stored value that is used by certain users for settlement of payments. Main feature of virtual currency is that unlike central bank issued currencies, the virtual currency doesn’t have a legal tender status/fiat money status and can’t be accepted as legal payment devices. In many financial systems, virtual currencies are not part of electronic money also. A major example for virtual currency is the Bitcoin that is treated by regulators as a commodity, though notable volume of payments are taking place by using the Bitcoin.
