investing in Bitcoin-related businesses, and gambling site which uses Bitcoin was recently sold for a reported $11.5m.

Bernie Madoff was a New York-based investor who ran a Ponzi scheme – in which new investors' money paid off existing investors – which crashed after the credit crunch in 2008, revealing that between $18bn and $65bn had been lost through his fake "investments".

The SEC also issued a warning about the broader risk of virtual currencies, noting that "Potential investors are often less sceptical of an investment opportunity when assessing something novel, new or 'cutting-edge'."CIAA orders govt to seize lands in excess of ceiling

KATHMANDU, June 10: The Commission for the Investigation of Abuse of Authority (CIAA) has ordered the government to appropriate private lands in excess of the government's land ceiling.

The CIAA has asked the Ministry of Land Reforms and Management to take necessary measures to seize lands of all the individuals in excess of the land ceiling. The CIAA said it made the decision on Wednesday.

Issuing a statement, the CIAA has said a total of 5,223 bigha of land in Tarai and 6,265 ropani in the hills in 29 districts owned by various individuals are in excess of the land ceiling set by the government.

“So, the CIAA has asked the government to seize such lands in excess of the land ceiling,”