Governments To End Cryptocurrency To Stop 'CROOKS' Spreading Crime :Bitcoin Price Warning - <b>Technical Lobby</b>

Wednesday, January 24, 2018

Governments To End Cryptocurrency To Stop 'CROOKS' Spreading Crime :Bitcoin Price Warning

Bitcoin, Ripple and ethereum prices crashed down after the South Korean Government announced it would impose stricter regulation on cryptocurrency trading.

 Governments To End Cryptocurrency To Stop 'CROOKS' Spreading Crime :Bitcoin Price Warning

But while bitcoin value appears to be slowly recovering from the plunge, the financier warned global Governments will seek to regulate trading to crackdown on criminal activities exploiting criminal activities.

He said: "Bitcoin and other cryptocurrencies are a way for bad dictators or criminals to bypass sanctions and so from my perspective, and I think from the perspective of politicians around the world, governments are not going to allow that to happen.

"They will eventually regulate all cryptocurrencies in the same way you can’t take out more than $10,000 out of the bank without reporting it to the US Government, they’re not going to allow people to take a million worth of bitcoin and move it from Russia to Switzerland. That’s just not going to happen."Libertarian economists rally in favour of the utmost level of economic freedom and autonomy in trade, warning against government power and control over economic matters.

Bitcoin

"What we’ve seen over the last 10 years is technologies get ahead of regulation. It’s true with Facebook and Twitter with information"It’s true with bitcoin in terms of money laundering. They will get to it and when they get to it, it will be extremely tough and devastating and hurt the share price."

He said: “We have a good medium of exchange, called the dollar, we can trade in that. Why do people want a bitcoin? For secrecy. We have a perfectly good currency. We are moving towards an electronic payments mechanism. I would like us to move more towards an electronic payments mechanism but you don’t need a bitcoin for that.” 
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