Financial regulators in Belgium have issued a warning against bitcoin on Thursday, noting that the digital currency is something the general public should be wary of.
The statement was issues jointly between the National Bank of Belgium and the Belgian Financial Services and Markets Authority, and warns of essentially the same things most other countries who have issued statements warn about.
That, of course, includes price volatility, the fact bitcoin is not backed by the government, the risk of financial crime and fraud, and the possibility of having your digital currency stolen and not recovered (or guaranteed by the government).
As bitcoin and other digital currencies gain popularity, an ever-increasing list of central banks and financial authorities are coming forward and warning their people of potential pitfalls.
But these warnings are now commonplace and don’t signal any intention to impede the development of the digital currency — at least in Belgium. The country’s financial authorities do not have plans to regulate or ban bitcoin at this time, which is certainly promising for both businesses and consumers. (via CoinDesk)