Consumers have been warned of the possible risks from buying, trading or holding virtual currencies such as Bitcoins by a European financial regulator.
The European Banking Authority (EBA) has warned that some of the biggest risks facing consumers include:
Virtual currencies are not regulated, so if something does go wrong you will not be able to claim compensation.
The EBA has advised that you should only buy virtual currencies if you are aware of the risks. Treat your digital wallet with the same caution as you would your conventional wallet.
The FCA has published this alert on behalf of the EBA. To find out more, see the full warning.
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