28 Jul '14, 11am

Bitcoin catches on in tech-savvy Romania

Bitcoin catches on in tech-savvy Romania

BUCHAREST (Reuters) - In a well-lit office with red window frames in downtown Bucharest, Romania's first bitcoin ATM attracts many who until it opened in May had to buy or sell the digital currency face-to-face or through wire transfers. The interest in bitcoin in Romania stands out in a region where national currencies are widely seen as poor substitutes for the euro. Tech-savvy and still deeply distrustful of officialdom 25 years after the end of communism, many Romanians are unfazed by warnings about the cryptocurrency. In the western town of Oradea, 370 miles (595 km) away from the capital, the first bitcoin exchange in the country has drawn more than 2,000 clients in the seven months since it opened, with transactions totaling 5.12 million lei ($1.57 million). But Romania ranks as the European Union's second-poorest state and among the weakest in collecting taxes and ...

Full article: http://news.yahoo.com/bitcoin-catches-tech-savvy-romania-...

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Bitcoin catches on in tech-savvy Romania

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