Lutz Auffenberg of German legal practice Winheller said that more businesses were  worried about the regulation than theft and saw theft as a technical problem which could be solved. 'Regulation is more difficult. If it turns out you need permission to run your Bitcoin business and you don’t have it, it is a criminal offence and you can be shut down.’

China - near ban

The regulation has become very complicated. For instance, no licences are needed for Bitcoin operations in the Netherlands but organisations located there can be subject to German licence requirements just by dealing with Germans as customers. Many countries are still considering how they should regulate the currency. China has all but banned its use. Source: Financial Times