China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
virtual currencies
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Former Federal Reserve Chairman Alan Greenspan told Bloomberg Television today that despite the high trading value of the Bitcoin, the virtual currency holds no intrinsic currency value like with real physical money.
The competition is growing in the world of virtual currencies as other rivals tout their advantages over the bitcoin, a report from The New Y0rk Times The Dealbook reveals.
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