What is Cryptocurrency

A cryptocurrency is a digital or virtual currency designed to work as a medium of exchange. It utilizes cryptography to secure and confirm transactions as well as to control the creation of new divisions of a particular cryptocurrency. Essentially, cryptocurrencies are limited enters in a database that no one can change unless following condition are fulfilled.


As cryptocurrencies are becoming more and more mainstream, law enforcement agencies, tax administrations and legal regulators worldwide are trying to understand the very concept of crypto coins and where exactly do they fit in existing regulations and legal frameworks.

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