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      Archive: 2/19/2014
      12:41
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      News Brief

        2/19/2014, Adar 19, 5774

      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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