Compliance Glossary

Cryptocurrency

A digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.

In regulatory compliance, Cryptocurrency is:

A digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority. Regulators are currently scrutinizing whether this digital currency should be categorized as a security and therefore regulated as such.