During the last few weeks both China and South Korea have made statements regarding regulating cryptocurrencies and although nothing definite has been announced, the rumors have caused turmoil in Bitcoin and Altcoin cryptocurrency markets.
Now the cryptocurrency regulation rumors have moved to Europe with the German Central Bank stating that cryptocurrency regulation must be on a global scale as opposed to just National or regional rules.
The global financial industry has begun to wake up to the implications of the global boom in the trading of Bitcoin and other cryptocurrencies which are attractive partly due to their ability to be used across borders. As well as the implications for tax evasion and illegal activities, Government’s and Central Banks around the world may also be concerned about the implications for existing Fiat currencies.
Joachim Wuermeling a member of the board of Germany’s Bundesbank, expressed concern that national or regional rules may struggle to contain …