“The central bank of Estonia, where Swedish banks dominate the lending market, urged consumers to steer clear of Bitcoin, warning that the software and others like it could prove to be little more than a ‘Ponzi scheme.’ Bitcoin ‘is a problematic scheme,’ Mihkel Nommela, head of the Estonian central bank’s payment and settlement systems department, said in an e-mailed reply to questions. ‘All risks are assumed by the user, who has no one to turn to for help.’ Regulators and banks are escalating warnings against Bitcoin, and other digital currencies, amid concern such software lends itself to financial crime.”
Related posts:
Harvard Study: No Correlation Between Gun Control and Less Violent Crime
Japan stocks and consumer spending storm back on weak yen
Congress adds contested cybersecurity measures to 'must-pass' spending bill
Pennsylvania tax collector sold weed outside courthouse
Yahoo malware turned European computers into bitcoin slaves
Researcher’s paper banned for containing luxury car security codes
Massachusetts regulators warn about bitcoin as ATM opens
Goodbye Silk Road, Hello Sheep Marketplace
Spain Recoils as Its Hungry Forage Trash Bins for a Next Meal
German minister wants to ban sale of Swiss banking data
Europol: Police need powers to tackle virtual money laundering
This amazing, animated chart shows the aging of America
Turning urine into brain cells could help fight Alzheimer’s, Parkinson’s
Expedia Starts Accepting Bitcoin for Hotel Bookings
Democratic establishment unmasked: prime defenders of NSA bulk spying