Bitcoin wallet operator Coinbase has opened the first regulated US exchange for the alternative currency. <\/p>\n
The opening could provide a boost to the crypto-currency which has been hit hard by concerns about links to illegal activities and the collapse of a major bitcoin exchange last year. <\/p>\n
'With this launch our goal is to bring increased stability to the bitcoin ecosystem,' Coinbase said in a blog post on Monday. <\/p>\n
Launched in 2009 by a mysterious computer programmer, bitcoin is a form of e-money that offers a largely anonymous payment system and can be stored either virtually or on a user's hard drive. <\/p>\n
Backers say virtual currencies allow for an efficient and anonymous way to store and transfer funds online. <\/p>\n
But regulators argue the lack of legal framework governing the currency, the opaque way it is traded and its volatility make it dangerous. <\/p>\n
The value of a bitcoin which soared to over $US1,200 ($A1,526.23) in 2013, was at around $US285 ($A362.48) on Monday. <\/p>\n
Coinbase earlier this month raised some $US75 million in capital, bringing its total rise to $US106 million. <\/p>\n
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