What does VCCY mean in Finance?
This page is about the meanings of the acronym/abbreviation/shorthand VCCY in the Business field in general and in the Finance terminology in particular.
Submitted by i_1 on July 19, 2021
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Definition
What does VCCY mean?
- Virtual currency
- Virtual currency, or virtual money, is a type of unregulated digital currency, 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 has warned investors against pump and dump schemes that use virtual currencies. The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, defined virtual currency in its guidance published in 2013. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically". By contrast, a digital currency that is issued by a central bank is defined as "central bank digital currency".
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"VCCY." Abbreviations.com. STANDS4 LLC, 2024. Web. 20 May 2024. <https://www.abbreviations.com/term/2593385>.
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