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EU banking regulator warns of virtual currency risks
The European Union banking regulator has warned of the potential risk of using virtual currency Bitcoin, which consists of program code and is not regulated by any country.
The European Banking Authority is concerned that the currency does not offer protection to its consumers or mechanism for compensation. The regulator emphasized that digital currencies are facing sharp fluctuations in exchange rates, and that the Bitcoin market price has varied between less than $300 to over $1000 per unit.
Related topics : virtual currency exchange bitcoin / digital virtual currency and bitcoins / bitcoin price exchange rate
Value of Bitcoin soars after US Senate hearing
The value of virtual currency Bitcoin has increased to over $900 USD, following a US Senate committee hearing.
The committee determined that virtual currencies were a legitimate financial service, and had the same benefits and risks as other online payment systems.
Senator Thomas Carper said in an opening remark: "Virtual currencies, perhaps most notably Bitcoin, have captured the imagination of some, struck fear among others, and confused the heck out of the rest of us." The US Senate...
Related topics : fbi bitcoin virtual currency
World's first palm scan activated Bitcoin ATM to open in Canada
The world's first bitcoin ATM will open in Vancouver, Canada, next week -- dispensing Canadian dollars in exchange for the anonymous crypto-currency. But only if your palm scan matches the ATM's records, that is.
Related topics : bitcoin canadian dollar exchange
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