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February 21, 2014 7:42 am

Israeli Government Warns Public of Bitcoin Risks, Considers Regulation

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Physical Bitcoins. Photo: Wikipedia.

Israel Hayom – 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.

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.

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