Central bank warns consumers to be careful with unregulated bitcoins

The Dutch central bank on Tuesday warned consumers about the rising popularity of virtual currency such as bitcoins, pointing out that they currently fall outside official regulatory channels.

Nor does the central bank have a regulatory roll in companies which trade virtual currency, the institution said in a short statement.

‘Consumers should be aware of the risks they run when they acquire bitcoins,’ the statement said. ‘The exchange rate is volatile and there is no central authority consumers can hold responsible. Nor are Dutch guarantees on savings applicable.’

Several Dutch cafes and bars now accept bitcoins as currency, such as the Café De Waag in Delft. Takeaway food group Thuisbezorgd.nl has also just started accepting payment in bitcoins for online orders.

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