Greece, the nation that has experienced a near economic meltdown, has finally broken its silence on the matter of bitcoin (BTC) and other virtual currencies. The central bank pretty much repeated what other financial authorities have iterated before: beware.
This week, the Bank of Greece issued a brief statement that included warnings directed at citizens over the potential risks that come with investing in digital currencies. One of the primary warnings it offered citizens is that the price of cryptocurrencies is not protected by the Greek government.
In its prelude, it published information giving consumers guidance on the virtual currency marketplace, tax connotations and compliance and the possible legal ramifications of utilizing bitcoin.
In its news release, it also cited the European Banking Authority (PDF Download Link), which has previously warned consumers about the risks associated with bitcoin.
“Given that virtual currencies, such as for example Bitcoin, still in the spotlight of publicity and driven public awareness of the risks associated with their use, including that of losing money, the Bank of Greece refers in its recent Communication from the European Banking Authority (EBA) with the title: ‘Warning to consumers for virtual currencies.'”
The Greek central bank did not elaborate any further and did not respond to requests for comment. According to CoinDesk, bitcoin hasn’t garnered widespread attention in the country and only a small amount of people are actually aware of the digital currency.
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