“The U.S. is studying the potential risk from online payment mechanisms like PayPal and Bitcoin, a top US Federal Reserve official told an international conference on Monday. Some bankers have expressed worries that newer players in the online marketplace could have negative implications for the financial system. ‘We have been talking… with banking organisations over the last year or two, trying more carefully to understand what the concerns are with these new payment mechanisms,’ Federal Reserve Vice Chair Janet Yellen said. Some officials fear the virtual currency can be used by criminals or terrorists, or could be vulnerable to hackers.”
Related posts:
North Korea Is Newest Frontier for a Daredevil Investor
JPMorgan's Latest Guilt-Free Payoff
Embargoed EU Goods Actively Re-Imported to Russia via Belarus
World on the verge of a new industrial revolution: Mass 3D printing
Gorbachev urges US-Russia deal on Syria
UK lawmakers urge tough new press rules
The World’s Richest Country
New York Police Officer, Customs Officer Arrested For Trafficking Illegal Guns
High School To Collect Students’ Hair For Mandatory Drug Testing
Mt. Gox Suitors Launch Last-Ditch Bid To Revive Bitcoin Exchange
Iraq issues arrest warrant for ex central bank chief, other officials
Buffett Says Banks Free of Excess, Pose No U.S. Threat
Philly narcs face lawsuit by victim of drug raid on auto shop
Ron Paul: NSA head ‘fudged the figures’
Conservative party to force the jobless to work for nothing