The price of virtual currency Bitcoin was steady close to USD1000 on Monday, despite a warning from Malaysia’s central bank about the digital currency on Friday, echoing warnings from a number of regulators worldwide.
BTC/USD was up 3.76% during European afternoon hours to trade at USD1,049.00 on the Tokyo-based Mt. Gox Bitcoin exchange. The currency rose to a session high of USD1,092.90 earlier in the day.
"The Bitcoin is not recognized as legal tender in Malaysia,” Bank Negara Malaysia said Friday. "The Central Bank does not regulate the operations of Bitcoin. The public is therefore advised to be cautious of the risks associated with the usage of such digital currency."
Last month, the People’s Bank of China clamped down on Bitcoin, saying the digital currency doesn''t have "real meaning" and lacks legal protections.
China’s central bank subsequently banned third-party payment processors from handling payments for Bitcoin exchanges, effectively ending legal purchases of Bitcoin in the country.
Demand for the virtual currency has continued to be underpinned, with consumers increasingly turning to mobile devices and computers for online purchases.
The value of the virtual currency soared to an all-time high of USD1,241.10 on November 29. It was trading at USD100 in early October.
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