You are here

Cryptocurrencies a rising threat to central banks

Failure to regulate bitcoin and their ilk could see central banks lose control over money supply

Investors have poured hundreds of millions of dollars into the digital currency market this year alone. The dollar value of the 20 biggest cryptocurrencies is around US$150 billion.

Hong Kong

THE boom in cryptocurrencies and their underlying technology is becoming too big for central banks, long the guardian of official money, to ignore.

Until recently, officials at major central banks were happy to watch as pioneers in the...