As we reported a few days ago, Portugal is set to receive its very first Bitcoin ATM, which may support both altcoins and Paypal in the future. Shortly after that announcement, the Central Bank of Portugal issued a warning against Bitcoin and digital currency.
This is nothing new, as pretty much every Central Bank of every country has issued such statements in the past. Especially countries such as China, Russia and India believe the anonymity, as well as the lack of regulation of digital currency are too risky to deal with.
Bitcoin enthusiasts around the world partially expected a warning to be issued by the Central Bank of Portugal, even though the announcement has dampened the enthusiasm about the Bitcoin ATM by quite a bit. However, several people are taking an issue with the language used the statement released by the Central Bank of Portugal.
As the bank warns people for the dangers of Bitcoin by referring to the fact it is not backed by any real assets and consumers can lose their money, they are literally trying to scare the everyday population. Seems a bit desparate to me, but I do realize they have to say something about Bitcoin and digital currencies at some point.
And they even go one step further by calling virtual currencies unsafe, as there is no overseeing entity in Portugal or even the European Union. This is exactly what makes Bitcoin new and unique, so it should come as no surprise the Central Bank of Portugal doesn’t like it at all.