By Martin Gøttske
In China, investors snapped up 2.6 billion yuan worth of new virtual currencies during the first six months this year, as digital money continues to gain popularity.
News cryptocurrencies pop up on the market, adding to the long list of other currencies, including bitcoin. Some of these digital currencies are developed by companies to raise funds for new projects. But the highly unregulated sector of digital currencies in China also presents risks; in addition to project failure and high price-volatility, many currencies have been used to scam investors, investigations show.