With a new law that came into effect on February 1, 2017, the European Central Bank has made Bitcoin more expensive for banks to accept.
With the new law, banks can no longer accept Bitcoin payments made in Euros or other currencies that are deemed as non-standard, like British pounds or American dollars.
Bitcoin is a virtual currency that cannot be converted into fiat currency and therefore can be used by people who do not have access to banks.
It is currently accepted only in places that are accepted by the banking system.
Bitcoin and other virtual currencies have gained popularity among online drug dealers, cybercriminals, and other illicit activity.
While the ECB has not explicitly said that Bitcoin will be banned from the banking sector, the bank is expected to take action against businesses that refuse to comply with new regulations.
The move could have a direct impact on Bitcoin’s value, which is currently trading at around $8,500.
Bitcoin prices have fluctuated significantly in recent weeks, and the currency has lost around half its value since the beginning of the year.
In addition to its volatility, Bitcoin is also subject to regulation by countries like the US, the UK, and Canada, as well as international financial institutions.
While Bitcoin is still a relatively new technology, it is likely that other countries will follow suit, with the central bank announcing that it will continue to monitor the development of digital currencies in the coming years.