▁legal ▁status ▁of ▁crypt oc urr encies ▁in ▁I cel and ▁was ▁unclear , ▁though ▁the ▁Aur or aco in ▁a ird rop ▁involved ▁government ▁appro val ▁of ▁Od in sson ' s ▁use ▁of ▁the ▁national ▁database ▁of ▁citizens , ▁Í s ly kill . ▁Some ▁I cel and ic ▁polit icians ▁have ▁taken ▁a ▁negative ▁view ▁of ▁Aur or aco in . ▁ ▁During ▁a ▁parliament ary ▁debate ▁on ▁March ▁ 1 4 , ▁ 2 0 1 4 , ▁MP ▁P ét ur ▁Bl ö nd al , ▁vice - ch air ▁of ▁the ▁Parliament ' s ▁Econom ic ▁Affairs ▁and ▁Trade ▁Committee ▁( E AT C ), ▁emphas ized ▁that ▁potential ▁tax ▁ev asion ▁through ▁the ▁use ▁of ▁Aur or aco in ▁could ▁impact ▁I cel and ' s ▁economy . ▁He ▁also ▁said ▁that ▁the ▁public ▁should ▁realize ▁that ▁Aur or aco in ▁" is ▁not ▁a ▁recognized ▁currency ▁since ▁no - one ▁back s ▁the ▁medium ". ▁ ▁MP ▁F rost i ▁Sig ur j ón sson , ▁a ▁member ▁of ▁the ▁r uling ▁Progress ive ▁Party ▁and ▁Chair man ▁of ▁the ▁E AT C , ▁suggested ▁in ▁a ▁blog ▁post ▁on ▁his ▁website ▁that ▁there ▁is ▁evidence ▁that ▁Aur or aco in ▁is ▁an ▁illegal ▁financial ▁" sc am ". ▁ ▁Ó ð in sson ▁said ▁that ▁"( par liament ) ▁can ▁make ▁it ▁illegal ▁to ▁own ▁or ▁trade ▁Aur or aco in , ▁however , ▁they ▁will ▁never ▁be ▁able ▁to ▁control ▁such ▁a ▁decent