December 17, 2013

The Financial Supervisory Authority of Denmark has issued a statement warning against the use of bitcoin, litecoin and the like as “unsafe”, but also saying they will not be regulating crypto-currencies exchanges should they appear.

In total, Tuesday’s statement echoed the European Banking Authority warning that crypto-currencies exchanges are not a safe place with users risking their money as the latter might get stolen or become inconvertible into real money at any point.

However, the formidable preamble was followed by a sudden declaration: As crypto-currency is not money at all, then the FSA has no job in regulating crypto-currencies exchanges.

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