Traders Losing $1 Million Build EU Case for Bitcoin Rules

http://www.bloomberg.com/news/2013-12-13/traders-losing-1-million-build-eu-case-for-bitcoin-regulation.html

Thefts from digital wallets have exceeded $1 million in some cases and traders aren’t protected against losses if their virtual exchange collapses, the European Banking Authority said today in a report warning consumers about the risks of cybermoney.

Virtual currencies such as Bitcoin have come under increased scrutiny from regulators and prosecutors around the globe. China’s central bank barred financial institutions from handling Bitcoin transactions last week and German police arrested two suspects in a fraud probe into illegally generated Bitcoins worth 700,000 euros ($963,000).