Page 1 of 1

EU banking watchdog sounds caution on Bitcoin

Posted: Fri Dec 13, 2013 8:12 am
by Ad Orientem
(Reuters) - People using Bitcoins are on their own when it comes to losses, the European Union's banking watchdog said on Friday in a formal warning to consumers on the risks of using unregulated online currencies.

The European Banking Authority said there was no protection or compensation for people whose "digital wallets" are hacked, a transfer of virtual money goes wrong or a platform is shut.

The warning follows similar announcements from the Bank of France and the Chinese central bank.
Read the rest here...
http://www.reuters.com/article/2013/12/ ... 0820131213

Re: EU banking watchdog sounds caution on Bitcoin

Posted: Fri Dec 13, 2013 9:20 am
by Pointedstick
Yeah, it's a real bummer for people used to being reimbursed by governments when their physical cash gets stolen.

…Wait, what?