Central Banks Around The World Waking Up To The Threat Of Crypto Currencies.
Central banks around the world are waking up to the threat of crypto currencies.
Behind the scenes, there is growing uneasiness about how disruptive the technology may be to the banking and payments system. As seen with China this week, where China’s central bank declared initial coin offerings, which is the blockchain community’s version of crowd funding, to be illegal.
China is a large market for bitcoin trading and the central bank’s move may halt an important source of demand for the currency. Many now expect more central bankers to outlaw or crimp their use. BM