Caít Keane (Fine Gael) | Oireachtas source

Yes, but we cannot discuss the matter in detail on the Order of Business.

I wish to refer to Bitcoin, the new currency which originated online and which is trading in Ireland. It is a virtual currency but it is also a real one that is worth $119 per unit. The authorities in Germany have made moves to recognise Bitcoin and to discover how they can tax transactions made in the currency. There may be a possibility of our not being at the races when it comes to the euro and Bitcoin. The authorities in America have taken an alternative view and have referred to the validity of the currency and the fact that it is being used to facilitate certain underground transactions. Trade in Bitcoin is happening in Ireland and I request a debate on the matter. It may not be possible to regulate the currency. I am not stating that Bitcoin is bad and it could certainly be good in the context of facilitating transactions online. Ireland is a high-tech country. It must recognise Bitcoin, use it if there are benefits to doing so and, if possible, regulate it. A previous speaker referred to the banks not trading in coins. Trading in coins is taking place but it is taking place online in the form of Bitcoin.