With the rapid technological development in the world of communications, there has also been a steady evolution in financial transactions, represented by the emergence of new types of money. The primary goal behind this has been to facilitate operations and reduce the loss of time, effort, and money. Consequently, what is known as digital or cryptocurrency emerged, providing a new perspective on financial transactions that do not require the existence of monetary intermediary institutions and are also without oversight from central banks.
Digital currencies have succeeded in establishing themselves in the global financial market, and despite their ongoing risks, they still dominate the minds of many in the field of money trading and stock exchanges. Through this research, we clarify the definition of digital currencies, their origins, development, reasons for their spread, the reality of dealing with them, an overview of international recognition, as well as the risks associated with the use of digital currencies, along with some recommendations for regulating dealings with digital currencies.