ECB wants banks to segregate any virtual currency business

FRANKFURT (Reuters) – Banks should ring-fence any business they do with virtual currency (VC) such as Bitcoins and post “adequate” amounts of capital against it, a European Central Bank board member said on Monday.

“Due to the high volatility of VCs it might seem appropriate to require any VC trading to be backed by adequate levels of capital, and segregated from other trading and investment activities,” Yves Mersch told a conference in Turkey.

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