crypto currency exchange. Digital currency (digital money or electronic money or electronic currency) is a type of currency available only in digital form, not in physical (such as banknotes and coins). It exhibits properties similar to physical currencies, but allows for instantaneous transactions and borderless transfer-of-ownership.Cryptocurrency exchanges or digtal currency exchges () are businesses that allow customers to trade cryptocurrencies or dgital currencies for other assets, such as conventional fiat money, or different diital currencies.Creators of dgital currencies are often independent of the DCEs that trade the currency.administer accounts for their customers, but generally do not issue digial currency to those customers directly.Customers provided limited identity documentation, and could transfer funds to anyone worldwide, with fees sometimes exceeding. Budovsky and Kats were sentenced in 2007 to five years in prison ’for engaging in the business of transmitting money without a license, a felony violation of state banking law’, ultimately receiving sentences of five years probation 33218
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