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Virtual currencies can be attached to a legal currency. Attachment is a legal or economic mechanism that links the value of the digital asset to a legal currency. Virtual currencies do not have the legal status of a currency or money. This depends on the status of a digital asset in the EU or a Member State.
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According to the European Central Bank's 2015 "Virtual currency schemes – a further analysis" report, virtual currency is a digital representation of value, not issued by a central bank, credit institution or e-money institution, which, in some circumstances, can be used as an alternative to money. [21]
Virtual money (or in-game currency) is used to purchase virtual goods within a variety of online communities, which include social networking websites, virtual worlds and online gaming sites. A key revenue driver within social media , virtual currencies are specific within each game and are used to purchase in-game goods.
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Hoyle Casino is a virtual casino video game series released from 1996 to 2016 as a spin-off of the Hoyle's Official Book of Games series developed and published by Sierra Entertainment. After 2005, publication of the series moved to Encore, Inc. Set in a virtual Las Vegas casino, players create profiles and are given a set amount of virtual ...