Virtual currency in a virtual world : virtually unstoppable?

This chapter looks at the rising interest in, incidence of and attempts at regulation of virtual currencies. As more and more commercial activities are instituted, organised and concluded online, both lawful and unlawful, the need for a corresponding method of online regulation becomes imperative. The growth of lives lived virtually necessitates close regulation of the cyberspace. Netizens, when conducting their lives online, require trust to be established between themselves and their fellow netizens. This requirement for imposing reciprocal obligations of good faith between netizens is particularly pertinent in the case of online transfers of financial value.