The Bitcoin Wars continues as the UK government seeks to outlaw Bitcoin on the basis of its lack of transparency, its use of digital currency, and its use as a platform for terrorism.
The British government is set to ban Bitcoin as part of a crackdown on the cryptocurrency in the wake of the Paris attacks.
The UK government announced it was taking the measure on Wednesday, but it came with a warning to the rest of the world.
The UK’s Financial Conduct Authority (FCA) warned that Bitcoin could be used as a tool of terrorism and that its use could result in serious penalties including prison sentences.
The FCA also warned that “the use of Bitcoin as a means of payment could lead to serious penalties, including imprisonment, and could be liable for criminal prosecution”.
Bitcoin is a decentralized digital currency which has the ability to move between multiple currencies and payments in any amount without any middleman.
It is used as an online payment system that is widely accepted in the developing world, and for purchases such as clothing and toys, as well as purchases on the web.
The British government has been targeting Bitcoin since it was launched in 2009, after a spate of terrorist attacks in Europe and the US.
The government has taken a series of measures against Bitcoin, including imposing a 10% tax on its use and banning all Bitcoin transactions.
However, the FCA warned that the use of cryptocurrency is not limited to the UK, and that it could lead directly to criminal penalties.
The Bitcoin War in the UK is now taking place in a number of countries, including the US, the UK and Canada.
The BBC’s Peter Hunt reports from London.