Bitcoin exchange opening for business in Denmark

Copenhagen, May 27 (IANS) Denmark's first exchange for virtual currencies will open next week, operator Crypto Coins Exchange Denmark (CCEDK) announced Monday.

The firm said the exchange would allow customers worldwide to trade the computer-generated currencies bitcoin and litecoin for Danish and Norwegian kroner, pounds, dollars and euros, Xinhua reported.

Bitcoin trading has made news in recent months due to concerns that the currency can by used to purchase trade in a number of illicit items.

Other digital exchanges have collapsed or been hacked, leading to security concerns about the security of such currencies. CCEDK, however, said it had taken steps to ensure investors that the currency is secure and dependable.

"The biggest selling point for our customers is that we will be under Danish regulations and completely transparent," said Ronny Boesing, the firm's managing director.

Many of the world's biggest banks remain skeptical about unregulated internet currencies, such as bitcoin and litecoin, and a number of them have refused requests by customers to open up accounts denominated in the currencies.

European regulators have warned against cyber currencies, out of concern that they lacked oversight. Boesing, however, said his exchange would live up to all banking guidelines.