Romania's Central Bank: Virtual currency carries financial system risks

Virtual currency such as the Bitcoin is not national currency, nor foreign currency, and accepting it for payments is not legally binding, said Romanian National Bank representatives. Using virtual currencies as an alternative payment method carries risks for the financial system, because of the lack of regulation and supervision, money laundering, financing terrorism or price volatility, according to a report by the Central European Bank. The Romanian National Bank says that it continuously monitors the evolution of these virtual currency schemes, given the potential risks for the financial system. editor@romania-insider.com