Answer in writing Inbitcoin, a virtual currency created in in the wake of the global financial crisis, skyrocketed in value.
The extreme volatility of the currency's value is illustrated by the fact that in the intervening period, in Novemberit reached more than USD The idea behind the creation of bitcoin from open source software i. Taken together, the bitcoins currently in circulation bitcoin blion the world are worth about EUR 9.
Rumour has it that some European governments now want to regulate bitcoin. Finns can invest in bitcoin in the same way that you or I would invest in gold, sugar or cotton.
Other Member States are also considering this matter. This virtual currency could be used for illegal activities such as money laundering.
What is the Commission's stance on bitcoin? Does the Commission meet with financial institutions to discuss the issue? If so, what is the outcome of these meetings?
What steps have been taken to assess the implications of virtual money being bitcoin blion into circulation? Is it true that bitcoin cannot be regulated like a normal currency, and that Member State financial institutions are still unable to monitor transactions involving or the creation of bitcoins?