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August 2016

Virtual currencies and their potential role in cyber crime

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This article in our Royal Holloway Security Series looks at the potential for misuse of virtual currencies and legal landscape in the UK.

Table Of Contents

  • Whether or not virtual currencies can be considered as money in their true form is debatable – in some jurisdictions it is treated as money, in others as property, although this is largely down to taxation
  • Recently, Bitcoin has emerged as the de-facto standard within the virtual digital currency arena, and as such we will look closer at Bitcoin and its popularity in this study.
  • Virtual currencies have been promoted by many as offering great utility for consumers, but much has also been said in recent years about their use in terrorism and other criminal activities.

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