LOOKING AT ELECTRONIC MONEY, VIRTUAL MONEY, BITCOIN and LINDEN DOLLARS FROM A LEGAL PERSPECTIVE

Internet affects all areas of life. The number of persons who connects to the Internet increases day by day. It has been benefited from the Internet in numerous fields and in commerce as well. The commerce which takes place on the Internet without any burdens of working hours or workplaces attracts the business concerns increasingly. The rise of electronic commerce and the developments in technology have started the use of new payment systems. This article attempts to assess the electronic payment methods generally and then analyse the best known virtual currencies Bitcoin and Linden Dollars which are also types of electronic money. In this work the advantages and the disadvantages of electronic money and the suggestions about the subject has been evaluated by looking at the practice in the world and in Turkey.