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Cryptocurrencies

Crypto is an unregulated casino, where criminality runs riot

It is no surprise that the unregulated cryptocurrencies market would become the playground of con artists, criminals, and snake-oil salesmen, writes Nouriel Roubini. 9:12 a.m. July 19, 2019

Bitcoin buyers are only fooling themselves — again

The second cryptocurrency bubble will end just like the first, writes Gary Smith. 8:54 a.m. July 17, 2019

Donald Trump is right about bitcoin

President Trump is right to say that cryptocurrencies have no fundamental value, writes Brett Arends. 9:08 a.m. July 16, 2019

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Facebook’s Libra threatens the dollar’s international status

Properly managed, Libra could replace the dollar as the currency of choice for legitimate international transactions, writes Peter Morici.

9:08 a.m. July 16, 2019
Bitcoin prices off 8% as Mnuchin says Treasury will ratchet up cryptocurrency regulation

Treasury Secretary Steven Mnuchin on Monday afternoon said digital-payment ventures need to be held to the same anti-money laundering, or AML, standards as traditional banks. The official said the Trump administration and the Treasury has "very serious concerns" with the growth of cryptocurrencies, including Facebook Inc.'s ambitious digital-payment network currency known as Libra coin, which has drawn white-hot attention to virtual assets of late. Mnuchin said Treasury was concerned with the speculative nature of assets like bitcoin and its use in illicit activity, including financing terrorism. Mnuchin's briefing on Friday comes after President Donald Trump on Friday, via Twitter, expressed consternation about bitcoin as well as Facebook Inc.'s digital payment venture called Libra coin. Mnuchin's Monday briefing on cryptocurrency regulation also comes a day before Facebook executive Dave Marcus is slated to appear before a Senate committee to discuss Libra. On Friday, Trump tweeted: "I am not a fan of bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," he said. Mnuchin reiterated Trump's comments and said that Facebook has "a lot of work to convince us" that it is complying with U.S. bank regulation. On Monday afternoon, bitcoin prices trading on CME Group were off 8.1% at $10,780.

2:48 p.m. July 15, 2019
Treasury Secretary Mnuchin to hold briefing to discuss cryptocurrency regulation at 2 p.m. ET

Treasury Secretary Steven Mnuchin was slated to discuss digital currency regulation at 2 p.m. Eastern on Monday, the White House said. The briefing, to be held in the James Brady briefing room, comes after President Donald Trump on Friday, via Twitter, expressed consternation about bitcoin as well as Facebook Inc.'s digital payment venture called Libra coin. "I am not a fan of bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," Trump tweeted. Mnuchin's briefing also comes a day before Facebook executive Dave Marcus is expected to appear before a Senate committee to discuss Libra coin.

1:59 p.m. July 15, 2019
7/21/2019 5:33pm
Bitcoin USD
/zigman2/quotes/31322028/realtime
10578.5633
+69.16 +0.66%
7/21/2019 5:33pm
Bitcoin EUR
/zigman2/quotes/31321926/realtime
9431.2229
+60.36 +0.64%
7/21/2019 5:33pm
Bitcoin JPY
/zigman2/quotes/31321951/realtime
1139913.1595
+7,526 +0.66%
7/21/2019 5:33pm
Bitcoin GBP
/zigman2/quotes/31321929/realtime
8462.7872
+59.25 +0.71%
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