2023•Vestnik of Polotsk State University Part D Economic and legal sciencesOpen access

ON THE CORRELATION BETWEEN E-MONEY AND VIRTUAL CURRENCIES

A. SILIVONCHYK

Abstract

Some researchers hold the view a virtual currency is only a stage in the development of e-money and does not differ significantly from it, while others are convinced e-money and virtual currency are quite different concepts that have little in common. This article focuses on the relationship between the two concepts: " e-money" and "virtual currency". As a result of the analysis, the author concludes that "electronic money" and "virtual currency" are different concepts that have little in common and differ in substance. Among other things, these categories have different legal nature, different status with respect to recognition as legal tender, and differ significantly in the manner in which they are created.

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Key concepts: Virtual currency, Digital currency, Electronic money, Currency, Monetary economics, Economics, Commerce, Legal tender