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      Luxembourg to become European virtual currency hub

      Luxembourg to become European virtual currency hub

      The continuing rise of Bitcoin and other virtual and digital currencies could offer Luxembourg the opportunity to become the European hub for the new global digital economy, according to Patrick Murck, General Counsel for the Bitcoin Foundation.

      Seattle-based Murck spoke at the LFF conference on virtual currencies, where he shared his vision on cryptocurrencies and the disruption and opportunities they will create. The Bitcoin Foundation founding member highlighted why Luxembourg is well placed to host coin exchange and service providers, and to pioneer in this regulatory space.

      Luxembourg is open to virtual currencies, and the regulator has stated that virtual money is considered to be money, although not legal tender. In the following video, Murck explains why companies active in the virtual currency world are exploring the possibility of setting up their European headquarters in Luxembourg.

      Patrick Murck, General Counsel, Bitcoin Foundation on why Luxembourg is well placed to become the EU virtual currency hub from Luxembourg For Finance on Vimeo.