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What the World's Central Banks Are Saying About Bitcoin

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Yellen Calls Bitcoin a 'Highly Speculative Asset'
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Nine years since the birth of Bitcoin, central banks around the world are increasingly recognizing the potential upsides -- and downsides -- of digital currencies.

The guardians of the global economy have two sets of issues to address. First is what to do, if anything, about the growth of the private cryptocurrencies that are grabbing more and more attention for a host of reasons: security concerns after a $500 million exchange hack in Japan, volatile price moves and -- in the case of Bitcoin, at least -- their introduction on regulated derivatives exchanges. The second question is whether to issue official versions.