This type of virtual currency either has an equivalent value in real currency, or acts as a substitute for real currency. (benmilne.com)
Virtual currency that has an equivalent value in real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currency. (thebalance.com)
The IRS notes that any digital currency that has a value equivalent to real currency, or that acts as a substitute for real currency, is referred to as «convertible» virtual currency. (profitconfidential.com)