What is a brief summary of the ECB's report on virtual currency? On 29th Oct 2012, the European Central Bank released this report on virtual currency.

What is a summary of its comments on Bitcoin?
In the ECB's view,  (Bitcoin) can be used by business (criminals), customers (fraudsters) and savers (money launderers) to perform legal (illegal) activities, but lets ignore it until volume reaches a level where comparison with sovereign currencies reflects negatively on our reputation. The public will then expect us to regulate such digital (rogue) systems (schemes).