News Briefs

  אדר 19, 5774 , 19/02/14

State Warns Against Use of Bitcoin Virtual Currency

Bank of Israel Governor Karnit Flug met this morning with representatives of the Finance and Justice Ministries, respectively, where they decided to warn the public about the use of virtual currency - the 'bitcoin'.

In the document published, they advise that this financial instrument has a high degree of volatility, and is known to be sometimes used in criminal activity. The cyber-currency is also vulnerable to theft via hackers.

This is the first time the State is relating to this issue, and they warn the public to exercise caution in the use of the 'bitcoin'.

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Other archived news briefs:Feb 19 2014, 12:41 PM, 2/19/2014