Crypto-currencies and the Law - The Irish Position

Pearse Ryan, Rob Cain and Emma Dunne review the developments on crypto-currencies like Bitcoin which are of relevance in Ireland

Virtual currencies, also known as crypto-currencies, are a form of digital money which is not issued or guaranteed by a central bank and which can act as a means of payment.  Virtual currencies have risen greatly in prominence and popularity in recent years. An increasing number of Irish traders (19 according to the Irish Bitcoin Foundation web site) now accept payment in Bitcoins; on 13 March 2014, Ireland's first Bitcoin ATM was unveiled in Dublin, and in the same month Ireland acquired its first native crypto-currency, the Gaelcoin.

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