Macedonian Central Bank Warns Against Investing in Cyber Currencies


The Macedonian Central Bank (NBRM) issued a press release warning against investing in virtual currencies such as Bitcoin, which, NBRM said, is illegal under Macedonian law. This comes after growing popularity for online courses in Macedonia which explain how to invest in cyber currencies.

"The global rise of digital currencies and interest in them is driven by promises of high rates of return. Some of the digital currencies, such as OneCoin, have elements of a pyramidal scheme. NBRM would like to point out that the risks stemming from such investments are high, which is natural in situations when there is promise of high return. The growing interest can lead to speculative bubbles which will eventually burst", NBRM said in its press release, which also warns against the dangers of hacking such accounts, as well as about the use of cyber currencies in criminal activities and money laundering.

Comments

Most Read

May: Agreement with Greece opens doors to EU and NATO for Macedonia

Zaev: We should not miss the historic chance

Germany believes that Macedonia deserves recognition from the entire EU

Macedonian Parliament ratifying Agreement with Greece

Dimitrov: The deal is not ideal, but it must fulfill the most important interests of both parties

Evergreens

City of Skopje subsidizes pellet heating

Macedonia Marks 10 Years of Tose Proeski's Death

New evidence: in the 70’s Greece had no problem with our country’s name Macedonia

More than 30000 Macedonians in Sydney

Czech Republic to keep assisting Macedonia in guarding of its southern border