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Live Webcast: March 31, 2014, Bitcoin and Beyond: The Possibilities and the Pitfalls of Virtual Currencies

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In recent months, bitcoin and other virtual currencies have fueled the public's imagination as bitcoin's value against the U.S. dollar skyrocketed and as more and more merchants announced they would begin accepting it as payment. However, the exchange-based and non-regulated nature of virtual currencies makes them vulnerable to volatility and speculative trading and has led to the perception they can be easily used for illegal transactions. Several countries have either banned their use or issued warnings.

David Andolfatto, St. Louis Fed vice president and economist, will address these currencies and exchanges. He will also discuss how these currencies work and whether they are a fad or a new paradigm in payments, among other topics.

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