What is the difference between digital, electronic and virtual money?

Question

Fintech

What is the difference between digital, electronic and virtual money?
I can’t find the definitions of these 3 concepts in Google, where specific differences would be visible

. Do I understand correctly that digital ones have nothing to do with cash and just exist side by side?
virtual - which can only be paid in some system (games, etc.)?
and electronic ones are already real, but in electronic form?

Answer 1

I can't find definitions of these 3 concepts in Google,

Because there is no firm definition of these terms (except for e-money).
Electronic money is money that you can use to buy something and receive a check for it. An online bank account, for example.
The definition of digital and virtual money is given by the source in which these buzzwords are used.
Usually, virtual means a currency for which you cannot buy something real. For example, gold in an online game.

Answer 2

There is no standard/official definition for these terms.
The term - 'digital money', appeared around 2011 (digital money in 2008), which coincides with the emergence and popularization of the bitcoin cryptocurrency, it was then that they started talking about cryptocurrencies as digital money. Therefore, we can assume that this term is better used exclusively for cryptocurrencies.
Virtual currency is a currency in games or local accounts of some services (for example, a forum that provides internal services for its virtual coins, which you can buy but not sell back), from which there is no direct possibility to withdraw back into real liquid money, i.e. You can buy with that kind of money only what the service offers, where they are stored.
Electronic money is liquid money that can be used to purchase goods and services, but access to which is carried out programmatically (everyone usually means online, but it is technically possible to exist offline money, for example, in the form of secure chips that store information about the balance).
They have been talking about electronic money for a long time, at least since the last century, these are bank accounts and bank cards.
ps it is obvious that soon the two terms 'digital' and 'electronic' will merge into one concept

Answer 3

I recommend starting from the FATF definitions .