Bitcoins

Regulators concerned over use of virtual currency Bitcoins

Regulators concerned over use of virtual currency Bitcoins

As the popularity of Bitcoins is gaining momentum, so are the warnings against the use of the virtual currency.

The computer-generated currency has steadily jumped in value over the past couple of years. Bitcoin, which was worth nearly nothing until April 2011, is currently trading at around $1,000.

But, governments around the globe are concerned that use of the highly volatile currency could hurt their respective economies. Regulators as well as market observers are at odds over how the currency should be handled.