11 Oct '17, 10am

Global Regulators Play Bitcoin Whack-a-Mole as Demand Explodes

Global Regulators Play Bitcoin Whack-a-Mole as Demand Explodes

Regulators worldwide are finding that it’s incredibly hard to control the explosive growth of money tied to no nation. Russian President Vladimir Putin is the latest to call for regulation of cryptocurrencies, saying there are “ serious risks ” they can be used for money laundering or tax evasion. Finance Minister Anton Siluanov has called for regulating digital money as securities, while central bank officials vowed to work with prosecutors to block websites that allow retail investors access to bitcoin exchanges. “We think this is a pyramid scheme,” said Sergey Shvetsov, first deputy governor of the central bank. Global efforts to regulate digital money have accelerated in the past month since China banned initial coin offerings and ordered all cryptocurrency exchanges to close, following inspections of more than 1,000 trading venues over a six-month period. At least 13 ...

Full article: https://www.bloomberg.com/news/articles/2017-10-11/global...

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