CySec: transactions in bitcoin
The Cyprus Securities and Exchange Commission (CySec) the Cypriot financial regulatory authority has issued a press release regarding the transactions in bitcoin.
CySec warns the investors of the dangers associated with owning, buying or selling bitcoins, highlighting the fact that they do not have the form of a compatible source of money or financial method for transactions.
The Commission also indicates the following important points that the investors need to bear in mind for bitcoin:
- One can lose its money at the trading platform.
- One can steal your money from your digital wallet.
- The value of your digital currency could change rapidly or even been reset.
- Transactions in bitcoin can be used as a mean of criminal activities, including the legalisation of income from criminal activities.
Overall, CySec advice the investors to fully acknowledge any dangers associated with transactions in bitcoin before owning, buying or trading virtual currencies.
For full press release visit CySec (in Greek)
