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Art. 117. — The purchase, sale, use, and holding of so-called virtual currency is prohibited. Virtual currency is that used by internet users via the web. It is characterized by the absence of physical support such as coins, notes, payments by cheque or credit card.
Gold farming is the practice of playing a massively multiplayer online game (MMO) to acquire in-game currency, later selling it for real-world money. [1] [2] [3] Gold farming is distinct from other practices in online multiplayer games, such as power leveling, as gold farming refers specifically to harvesting in-game currency, not rank or ...
Virtual currency. Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. [1] In 2014, the European Banking Authority defined virtual currency as "a digital representation of ...
You’ll create a liability if the price you realize for your cryptocurrency – the value of the good or real currency you receive – is greater than your cost basis in the cryptocurrency.
United States virtual currency law is financial regulation as applied to transactions in virtual currency in the U.S. The Commodity Futures Trading Commission has regulated and may continue to regulate virtual currencies as commodities. [1] [2] The Securities and Exchange Commission also requires registration of any virtual currency traded in ...
Silk Road was an online black market and the first modern darknet market. It was launched in 2011 by its American founder Ross Ulbricht under the pseudonym "Dread Pirate Roberts."
Microtransaction. Microtransactions ( mtx) refers to a business model where users can purchase in-game virtual goods with micropayments. Microtransactions are often used in free-to-play games to provide a revenue source for the developers. While microtransactions are a staple of the mobile app market, they are also seen on PC software such as ...
Philippine Government Securities. Philippine government securities (locally referred to as "GS") are the unconditional debt obligations of the Republic of the Philippines. These are all denominated in the local currency, the Philippine peso. The securities are issued by the Republic through its fiscal agent, the Bureau of Treasury.