In July 2014, the New York State Department of Financial Services proposed the most comprehensive regulation of virtual currencies to date commonly referred to as a Bit License. Unlike the US federal regulators, it has gathered input from bitcoin supporters and the financial industry through public hearings and a comment period until October 21, 2014, to customize the rules. The proposal, per NY DFS press release “sought to strike an appropriate balance that helps protect consumers and root out illegal activity”. It has been criticized by smaller companies to favor established institutions, and Chinese bitcoin exchanges have complained that the rules are "overly broad in its application outside the United States"

The article cited AMA's "Global Virtual Currency Market Study" explored CAGR of %. According to the report, Increasing Adoption of Gamification and Social Media is one of the primary growth factors for the market. Transparency of Distributed Ledger Technology is also expected to contribute significantly to the Virtual Currency market. Overall, Trading applications of Virtual Currency, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Software Type, such as Mining Platform, is boosting the Virtual Currency market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Process Type, such as Mining, is boosting the Virtual Currency market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The Hardware Type, such as Asic, is boosting the Virtual Currency market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.

AMA’s Analyst on the Global Virtual Currency market identified that the demand is rising in many different parts of the world as "Significant Growth Opportunities in Emerging and Developed Markets ". Furthermore, some recent industry insights like "In February 2018, AMD launched the EPYC Embedded 3000 series processor and AMD Ryzen Embedded V1000 processor that deliver high performance, exceptional integration, and on-chip security. and In December 2017, NVIDIA introduced TITAN V, the world’s most powerful GPU for PC, driven by the world’s most advanced GPU architecture, NVIDIA Volta. TITAN V excels at computational processing for scientific simulation. Its 21.1 billion transistors deliver 110 teraflops of raw horsepower, 9 times that of its predecessor, and extreme energy efficiency." is constantly making the industry dynamic.

The report provides an in-depth analysis and forecast about the industry covering the following key features:
o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies
o Analyses the Global Virtual Currency market according to Type, Application, and regions
o Analyzes the top 10 players in terms of market reach, business strategy, and business focus
o Provides stakeholders’ insights and key drivers & trends of the market

**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.

Market Size Estimation
In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Virtual Currency market and other related sub-markets covered in the study.

o Key & emerging players in the market have been observed through secondary research.
o The industry’s supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes.
o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Have a look at detailed Table of Content for Virtual Currency Market Study

Data Triangulation
The overall Virtual Currency market size is calculated using market estimation process, the Virtual Currency market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Virtual Currency market size has been validated using both top-down and bottom-up approaches.