EU Banking Regulator Issues Warning on Virtual Currencies
The European Banking Authority (EBA) has issued a warning on potential risks related to virtual currencies, but the warning is largely focused on the possibility of fraud and theft. The authority points out that consumers are not protected by union regulation when they buy, trade or hold virtual currencies such as bitcoin. In addition, the regulator warns that there is no guarantee that currency values will remain stable. The EBA was apparently prompted to issue the warning due to a sudden increase in virtual currency trading and the fact that virtual currencies are constantly in the....
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Another day, another warning on the perils of getting involved with digital currency from a central bank. This time around it's the Central Bank of Trinidad and Tobago, who's issued the following warning on the use of digital currencies, as reported by the print version of the Guardian TT (found here): Potential users of this product must be aware of the risks involved in investing in virtual currencies as regulators seek to establish appropriate frameworks to ensure the continued safe operation of the payments system and the smooth conduct of monetary policy. On the topic of regulation,....