11 Jan '18, 1am

#Bitcoin Is the New Gold, Says @GoldmanSachs

#Bitcoin Is the New Gold, Says @GoldmanSachs

Tightening regulation in China and South Korea is, in part, responsible for the decline. China's crackdown last year included banning initial coin offerings or ICOs and limited trading to over-the-counter markets, slowing down the process and possibly increasing credit risk. And authorities have reportedly ordered a gradual exit of of mining operations. Photographer: Michael Short/Bloomberg Financial authorities in South Korea said they were investigating six local banks that offered digital currency accounts, checking to see if they are complying with anti-money laundering rules, among other things. In a report published Wednesday, Goldman Sachs (GS ) analysed the potential of bitcoin as a form of money. Analyst Zach Pandl suggests it can facilitate transactions, but just in theory. He acknowledges that the demand for cryptocurrencies could be related to "dissatisfaction"...

Full article: https://www.barrons.com/articles/bitcoin-is-the-new-gold-...

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via @BTCTN

via @BTCTN

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