Central banks would threaten the global financial system if they issued their own cryptocurrencies

Reuters/Stephen Hird A new report from the Bank for International Settlements questions the viability of central bank issued cryptocurrencies. “The introduction of a central bank digital currency (CBDC) would raise fundamental issues that go far beyond payment systems and monetary policy transmission and implementation,” the BIS said. Cryptocurrencies have entered the consciousness of central banks […]

Bill Gates says cryptocurrencies have “caused deaths in a fairly direct way”

Enlarge / Bill Gates answering questions on Reddit in 2013. (credit: Bill Gates) Microsoft and Bill & Melinda Gates Foundation progenitor Bill Gates is not a fan of cryptocurrencies. In a Reddit AMA yesterday, he posited that crypto subverts governments’ abilities to intercept terrorist funding, illegal drug transactions, and more. Redditor Askur1337 asked Gates, “Whats […]

Cryptocurrencies are killing people – Bill Gates

Microsoft founder Bill Gates has expressed major reservations about cryptocurrencies, warning that due to their use in the purchase of illegal dangerous drugs, crypto is actually killing people “in a fairly direct way.” During a Reddit ‘Ask Me Anything’ session on Tuesday – his sixth on the forum – Gates discussed various issues, from quantum […]

Law enforcement has a massive problem with these 3 cryptocurrencies

Business Insider Police cryptocurrency experts at Europol and London’s Met Police told Business Insider that a subset of cryptocurrencies are associated with criminality. Monero, zcash and dash have all raised flags. These three currencies have extra privacy features which can frustrate investigations. Exchanges which deal in these currencies are also less likely to cooperate with […]

Nearly half of 2017’s cryptocurrencies have already failed

The surging price of bitcoin (among others) in 2017 led more than a few companies to hop on the cryptocurrency bandwagon with hopes of striking it rich almost overnight. Many of their initial coin offerings seemed dodgy from the outset… and it turns out they were. Bitcoin.com has conducted a study of ICOs tracked by […]

Cryptocurrencies pose serious threat to Bank of America according to its SEC filings

Bank of America considers cryptocurrency a material risk to its business, public records reveal. The bank has made efforts to restrict its customers’ use of bitcoin and other virtual currencies. In its annual filing with the Securities and Exchange Commission, the bank admitted cryptocurrency poses a competitive threat to its business on three separate occasions […]

Cryptocurrencies: High risk, high profit — but can you spend it?

The volatility in the digital currency market makes it a tricky investment. And even if you garner a profit, you may struggle to get your hands on your money. “For any investor, the main question is always how to cash out. Cryptocurrencies are decentralized and unregulated, which can be seen as a great achievement. But […]

British lawmakers launch inquiry into cryptocurrencies

UK’s Treasury Committee says it wants to study digital currencies and the blockchain technology behind them to understand the risks and benefits of cryptos and their rising popularity. Read more “People are becoming increasingly aware of cryptocurrencies such as bitcoin, but they may not be aware that they are currently unregulated in the UK, and […]

Switzerland embraces bitcoin & cryptocurrencies amid global crackdown

While financial regulators across the world are cracking down on bitcoin, Swiss Financial Market Supervisory Authority (FINMA) has decided to encourage digital currencies by issuing guidelines on initial coin offerings (ICOs). According to the regulator, Switzerland has recently seen a sharp growth in the number of upcoming ICOs planned to be launched in the country, […]

Investing in cryptocurrencies? Understand how to diversify your portfolio

GUEST: Most investors will tell you about the importance of a well-diversified portfolio and how you should never go all in on any single asset. This is good advice for most of us and makes even more sense in the unregulated cryptocurrency market, where volatility is high and most of the current projects are believed […]