[2014-08-14] U.S. watchdog calls bitcoin 'Wild West' of finance

[patricktim]

http://in.reuters.com/article/2014/08/11/us-bitcoin-regulations-idINKBN0GB1Q520140811

In a consumer advisory, the agency noted that bitcoin fell as much 80 percent against the U.S. dollar in a single day this year, exposing investors to massive potential losses.

Other risks include the fact that online or virtual currencies have been a target for hackers while some virtual currency companies have provided little help in cases where funds were lost or stolen, the CFPB said.