Are bitcoin's chances of acceptance getting better?

January 19, 2014

Many countries are still grappling with the issues of crypto-currencies such as Bitcoin, of which there are at least 70. China’s central bank, for example, has ordered financial institutions to halt Bitcoin-related services and products. With the value of Bitcoin increasing to more than $1000 this month after social gaming firm Zynga said it would begin accepting the virtual currency as payment, the question is: can crypto-currencies can become real currency? From the perspective of the Reserve Bank in New Zealand, crypto-currencies are not currency, or more specifically not legal tender. They are payment systems. A bank representative says the consistent message emerging from central banks and governments around the world is: To read this article in full or to leave a comment, please click here

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