Subsequent Mt. Gox Sell-Off, Cyprus Warns of Bitcoin’s Volatility

The Central Financial institution of Cyprus (CBC) released a warning on 7th February to its 1.1 million occupants advising them that digital currencies this kind of as bitcoin are not really lawful tender and should become treated with caution because of the perceived volatility.

The CBC additional mentioned in its statements that it will not condone any exercise that drops under its jurisdiction, “unless it can make sure the legality of that exercise”. The agency additional:

“Actions without the required licensing are usually in breach of legislation.”

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