Bitcoin Now Hampiri Lowest Level 6 Days, OECD Crypto Exploration
The crypto currency moved lower on Thursday, after Bitcoin neared a six-day low that struggled to get a boost.
Bitcoin was trading at $ 8,282.10, falling 0.87% at 19.55 GMT on the Bitfinex exchange.
Other digital coins fall. Ethereum, the world's second largest cryptocurrency by market capitalization, edged down 0.95% to $ 697.23 on the Bitfinex exchange.
Ripple, the third-largest virtual currency, declined 0.39% to $ 0.68937 while Litecoin was at $ 137.96, down 0.90%.
Under conditions of regulation, the Organization for Economic Development and Cooperation (OECD) is monitoring cryptocurrency and initial coin offerings (ICO), to help government agencies develop laws to protect consumer rights.
While the OECD recognizes the virtual currency as a means of payment, most discussions will be held to ensure consumer financial security, according to Elina Sidorenko, head of the Russian risk department of cryptocurrency.
Elsewhere, PayPal CFO John Rainey told CNBC that payment companies are not interested in cryptocurrency because of volatility, which could threaten traders' livelihoods.
"Currently, we do not see much interest from our merchants. But if it is something that is stable in the future and is a better currency, then we will definitely support it, "he said.
Meanwhile, Iran's central bank is trying to use digital coins in international trade as a way to avoid using the US dollar. With US sanctions pending against the country, Iran is looking for ways to use the international banking payment system, known as SWIFT.
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