KUALA LUMPUR (Bernama) -- With threats of serious financial crime looming with the emergence
of new technologies, including cryptocurrencies, can bitcoin survive scrutiny from central
banks globally?
Amid growing warnings of a market bubble, central banks, such as that of China, have
restricted cryptocurrencies trading, which sent the virtual currency dropping as much as 40
per cent since reaching a record high of US$4,921 on Sept 1, cutting about US$20 billion in
market value.
This is following a crackdown by Chinese regulators on cryptocurrencies trading, including
bitcoin, which according to the authorities have become a tool for speculation among
investors and also serves as a payment conduit for illegal fundraising and money laundering.
sumber:BERNAMA
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