BoA warns Albanian public over risks of investing in Bitcoin
Bank of Albania warned on Thursday the Albanian public about the risks of investing in virtual currencies, such as Bitcoin.
In a statement, the Bank of Albania stated that the legal framework does not foresee the use and trade of virtual currencies and, consequently, no licensed entities for activities of this type can exist in Albania.
In the absence of rules that would discipline the financial activity and its supervision, the Bank of Albania states that the activity of these entities is characterized by a high degree of risk adding that there is no guarantee to protect customers from investment loss.
Bank of Albania notes that investment in virtual currency carries many risks of different natures.
The value of virtual currency traded or invested in the relevant exchange platforms is unsustainable and without guarantee.
Trading can be manipulated causing big losses for investors.
The virtual money changers are shadow companies, unregulated and not registered in any jurisdiction.
Because of the high risks, the Bank of Albania appeals to the public to avoid investing in virtual currency and calls on them to funnel their investments towards financial products and instruments offered by licensed and supervised institutions.
*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.