Israeli financial authorities scrutinized the use of virtual currencies, warning that it’s not legal tender, unsupervised, & presents fertile ground for dubious transactions.
Israel has emerged as a bitcoin hotspot.
By Reuters and Israel Hayom Staff
Israel is considering regulating the bitcoin, the Internet’s crypto-currency, and financial authorities are warning citizens that using such decentralised virtual currencies is risky.

Money, money, money: Israel is considering regulating the bitcoin and is warning citizens of the risk of using it – Photo: Reuters
Bitcoins are passed between two parties digitally and can be traded on exchanges for real-world currencies. The bitcoin’s value fluctuates according to user demand but it is not backed by any government or central bank. Continue Reading »









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