NEW YORK (Reuters) - Venture capitalists show no sign of shying away from investing in startups related to Bitcoin even as authorities step up their scrutiny of the virtual currency and its possible connection to money laundering and other illegal activities.
Investment has jumped in recent months as Bitcoin, the prominent digital currency not backed by a government or central bank, has begun to gain a footing among businesses and consumers, a key step for it to go mainstream.
Startups such as Coinbase and BitPay Inc, which help facilitate bitcoin adoption by merchants and consumers, have raised millions of dollars so far. Interest is also growing in bitcoin trading, investment funds, and "mining" - the process of creating the digital currency.
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