Cybersecurity
Global Regulators Play Bitcoin Whack-a-Mole as Demand Explodes
- Evading government control a central feature of bitcoin
- Efforts to regulate digital currencies stymie authorities
Banks Respond to Growing Interest in Cryptocurrencies
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Regulators worldwide are finding that it’s incredibly hard to control the explosive growth of money tied to no nation.
Russian President Vladimir Putin is the latest to call for regulation of cryptocurrencies, saying there are “serious risks” they can be used for money laundering or tax evasion. Finance Minister Anton Siluanov has called for regulating digital money as securities, while central bank officials vowed to work with prosecutors to block websites that allow retail investors access to bitcoin exchanges. “We think this is a pyramid scheme,” said Sergey Shvetsov, first deputy governor of the central bank.