Tag Archives: Bitcoin

Bitcoin is not legal tender in India: finance ministry

Last week the Ministry of Finance said that virtual currencies (VCs), including bitcoins, are not currencies. “VCs are not currencies. These are also being described as ‘coins’. There is however no physical attribute to these coins. Therefore, VCs are neither currencies nor coins,” the ministry said in a press statement. It further clarified that virtual currencies are not backed by ... Read More »

ECB: bitcoin threatens Europe’s financial stability

Yves Mersch, a member of the executive committee of the European Central Bank (ECB) said bitcoin and similar unregulated cryptocurrencies pose a real risk to the established financial order.  In an interview with the German newspaper Boersen Zeitung, Mersch warned the entirely speculative nature of bitcoin’s value was a ‘cause for concern.’ Mersch also warned against banks investing in cryptocurrency. ... Read More »