27 Apr '13, 11am

Bitcoin's real-world problem: Virtual currency facing bank backlash

Bitcoin's real-world problem: Virtual currency facing bank backlash

The Bank of Canada also has yet to take an official position, said Dale Alexander, a spokesman for the central bank. But in an emailed statement he went on to quote the Currency Act which defines legal tender as any bills or coins issued under the auspices of the Bank of Canada or the Royal Canadian Mint. The note also included a link to a European Central Bank study warning that virtual currencies such as Bitcoin are “inherently unstable,” “not regulated or closely supervised,” and “could have a negative impact on the reputation of central banks.”

Full article: http://business.financialpost.com/2013/04/27/bitcoin-cana...

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