Cryptocurrency crackdowns may spark gold rush: Mobius
Hong Kong
MARK Mobius is sensing danger in the explosive growth of cryptocurrencies. Governments will begin clamping down on digital currencies because of their use in illicit financing, with terrorist groups to drug dealers contributing to their rise, said the executive chairman at Templeton Emerging Markets Group.
"Cryptocurrencies are beginning to get out of control and it's going to attract the attention of governments around the world. You're going to get a reversion back to gold because people are going to wonder, 'Can I really trust these currencies?'"
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam National Assembly head resigns amid graft purge
China central bank flags bond investment risks to some financial institutions: sources
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027