The U.S. Federal Trade Commission is set to announce Tuesday it will accept virtual currencies as payment as part of its plans to roll out a nationwide virtual currency pilot program.
The announcement follows a report by the Wall Street Journal last month that U.N. agencies have begun to explore virtual currencies and the potential of such payment systems for businesses.
Canada and the U.K. are among those countries that are expected to participate in the pilot program, which will allow merchants to accept payments in virtual currencies including Bitcoin and Ethereum.
The U.F.T.C. announced the pilot in January, and said it has received more than 200 requests from U.s. and U.k. retailers for a similar program.
It said the U of S. Department of Justice has also been approached about the pilot, and it is currently conducting a feasibility study to ensure that the program will work.
The commission has received requests from the U