Bitcoin price WARNING: Governments to END cryptocurrency to stop 'CROOKS' spreading crime

Bitcoin price WARNING: Governments to END cryptocurrency to stop 'CROOKS' spreading crime

BITCOIN price has begun to recover from a huge plunge driven by investors' fears of a trading crackdown but the cryptocurrency world could be rocked by another crisis, according to financier Bill Browder.

Bitcoin, Ripple and ethereum prices crashed down after the South Korean Government announced it would impose stricter regulation on cryptocurrency trading.

But while bitcoin value appears to be slowly recovering from the plunge, the financier warned global Governments will seek to regulate trading to crackdown on criminal activities exploiting criminal activities.

Bitcoin is a cryptocurrency not controlled by a single administrator and can be used to buy things worldwide electronically. 

South Korea announced plans to “legalise” cryptocurrency trading for registered real-name accounts only in a bid to tackle anonymity in trading. Real names will have to be used starting from January 30.

He said: "Bitcoin and other cryptocurrencies are a way for bad dictators or criminals to bypass sanctions and so from my perspective, and I think from the perspective of politicians around the world, governments are not going to allow that to happen.

"They will eventually regulate all cryptocurrencies in the same way you can’t take out more than $10,000 out of the bank without reporting it to the US Government, they’re not going to allow people to take a million worth of bitcoin and move it from Russia to Switzerland. That’s just not going to happen."

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