Kosovo’s first bit of currency ATM triggered a warning from the central bank


nnnIn the wake of a warning from the central bank, a private company in Kosovo is still stepping up its installation of its first bit-rate cash dispenser (ATM). This ATM is expected to be installed in the center of Pristina, the capital of the country. The machine, operated by IT systems company Albvision Ltd, will support Bitcoil transactions and will support 10 other encrypted currencies. The company also plans to install Bitcoin ATMs for the other two countries located in the Balkans: Skarna in Albania and Skopje in the Republic of Macedonia. However, the decision to install the device has aroused the concern of the country’s financial regulators.n
nnTranslation: Dorisn
nDespite the warnings from the central bank, a private company in Kosovo is stepping up its installation of its first bit-rate cash dispenser (ATM).n
nAccording to Balkan Insight, this ATM is expected to be installed in the center of Pristina, the capital of the country. The machine, operated by IT systems company Albvision Ltd, will support Bitcoil transactions and will support 10 other encrypted currencies.n
nThe company also plans to install Bitcoin ATMs for the other two countries located in the Balkans: Skarna in Albania and Skopje in the Republic of Macedonia.n
nHowever, the decision to install the device has aroused the concern of the country’s financial regulators. Regulators stressed that due to the lack of local regulation, the encrypted currency lacks protection for consumers.n
nA statement by the Central Bank of Kosovo states:n
nn”We inform all potential virtual currency users that there is no relevant institution in the Republic of Kosovo to guarantee the repayment of the lost funds.”n
nnAt the same time, technology enthusiasts also came to the front of the incident.n
nIn an independent statement to the media, they argue that it is better able to reduce the risk by educating the public and accelerating the country’s regulatory classification of technology.n
nValmir Hazeri, chief operating officer of Bitsapphire, a local company, said:n
nn”The risk is the same, and if the user does not know how to use it, it may lose money, but this ATM will create the possibility of having more users for Bitcoin, and the biggest risk is not knowing how to use it.”n
nnHazeri continues to call on local regulators to take steps to open possible legal reconciliation talks about the industry.n

Leave a Reply

Your email address will not be published. Required fields are marked *