Warning to Consumers on Virtual Currencies

Citation
European Banking Authority, Warning to Consumers on Virtual Currencies (EBA/WRG/2013/01) (Dec. 12, 2013) (full-text).

Overview
The European Banking Authority (EBA) issued a warning to highlight the possible risks consumers may face when buying, holding or trading virtual currencies such as Bitcoin. No specific regulatory protections exist that would cover consumers for losses if a platform that exchanges or holds virtual currencies fails or goes out of business.