'Wild West' days of cryptocurrency are ending as backlash meets Facebook's Libra

News, The TelegraphJuly 2019

Cyber Consulting / Forensic Investigation

The "wild west days" of cryptocurrency markets are ending as regulators close in on digital currency exchanges and Facebook’s Libra project, according to a top forensic accountancy firm.

According to a report from BTVK, the forensic accountancy firm, this lawless period for trading digital currencies like Bitcoin is entering its final phase, with regulators expected to line up rules to bring cryptocurrency exchanges into line.

The firm added that Facebook’s Libra announcement “could not have come at a better time for regulators”, who after years of relative inaction have taken a tough stance on the planned digital coin.

“From a UK regulatory perspective it could not have happened at a better time,” according to Alex Hodgson, senior consultant at BTVK. “Laws are in development as we speak. Facebook has well publicised issues in the past, and in response to that are going above and beyond.”

Read the full article from The Telegraph here

Looking for more?

Get in touch with our London Office

11:49 pm

Local time