We Should Shut Down Crypto, - Nobel Laureate

Joseph Stiglitz, Nobel Prize winner in economics and a professor at Columbia University, believes crypto are used in criminal activity 
07 May 2019   941

Joseph Stiglitz, Nobel Prize winner in economics and a professor at Columbia University, proposed a total ban on cryptocurrency during his interview with CNBC.

Stiglitz is concerned that cryptocurrencies are used in criminal activity and operations with them are opaque.

At the same time, the Nobel laureate favored the development of digital payment systems for national currencies.

Stiglitz's statement was commented by the CEO and founder of the ShapeShift exchange platform, Eric Vorges, proposing to ban Fiat.

Earlier Stiglitz had already criticized Bitcoin, which, in his words, “is trying to solve a non-existent problem,” and the regulation of cryptocurrencies should destroy them.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   299

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.