{"id":60759,"date":"2018-01-28T01:40:00","date_gmt":"2018-01-28T01:40:00","guid":{"rendered":"http:\/\/www.bnreport.com\/bitcoin-taking-growing-regulatory-scrutiny-in-stride\/"},"modified":"2018-01-28T01:40:00","modified_gmt":"2018-01-28T01:40:00","slug":"bitcoin-taking-growing-regulatory-scrutiny-in-stride","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/bitcoin-taking-growing-regulatory-scrutiny-in-stride\/","title":{"rendered":"Bitcoin taking growing regulatory scrutiny in stride"},"content":{"rendered":"

By Kailey Leinz
<\/strong>
Bitcoin<\/a>, infamous for its volatility, is standing strong in the face of the latest round of scrutiny cascading down from global leaders in Davos<\/a>. <\/p>\n

UK Prime Minister Theresa May<\/a> kicked things off by suggesting that "action" on cryptocurrencies may be needed. Her contemporary, U.K. Chancellor of the Exchequer Philip Hammond, also said at Davos Thursday that there should be caution. A governor from the Central Bank of Nigeria said investing in the cryptocurrency<\/a> is a "gamble" and suggested it may have to be regulated. On Wednesday, sources said that Japan's Financial Services Agency isn't eager to change regulations<\/a> to allow Bitcoin futures. The list goes on. <\/p>\n

Their words did little to shake Bitcoin. The digital currency was little changed and traded near the $11,000 level its been hovering around for days. <\/p>\n

That wasn't the case when South Korean regulators came to call at the end of last year. <\/p>\n

In December, the South Korean government said it was eyeing options to clamp down on crypto speculation, including a potential shutdown of some exchanges. The warning helped set Bitcoin into a dizzying downward spiral, serving as a catalyst for a rapid sell-off that has brought its price down to nearly 50 percent of the record $19,511 it hit earlier in the month. <\/p>\n

The seemingly outsized move is tied to the weightiness of the South Korean market in the crypto world. Asia's fourth-largest economy has been the global hub of Bitcoin mania \u2014 so much so that the digital coin trades at a 30 percent premium there and the country's prime minister said it could corrupt Korean youth. <\/p>\n

But for leaders whose countries are less vital to crypto trading, and where the frenzy isn't quite as pervasive, the threats seem to ring hollow. At least for today. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

[contfnewc]
\n[contfnewc]<\/p>\n","protected":false},"excerpt":{"rendered":"

By Kailey Leinz <\/p>\n

Bitcoin, infamous for its volatility, is s..<\/p>\n","protected":false},"author":1,"featured_media":60760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-60759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"\nBitcoin taking growing regulatory scrutiny in stride - Business News Report<\/title>\n<meta name=\"description\" content=\"By Kailey Leinz Bitcoin, infamous for its volatility, is s..\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/bitcoin-taking-growing-regulatory-scrutiny-in-stride\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin taking growing regulatory scrutiny in stride - 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