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Business 17 Jun 2018 | 11:15 PM

The bigger Cryptocurrencies get, the worse they perform

LONDON: Cryptocurrencies are not scalable and are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them, the Bank of International Settlements (BIS)said on Sunday in its latest warning about the rise of virtual currencies.

Business 19 Sep 2017 | 12:00 AM

Should central banks issue cryptocurrencies?

LONDON: It is too soon to determine whether central banks should issue their own cryptocurrencies, the Bank for International Settlements (BIS) said on Sunday, as the risks could not yet be fully assessed and the technology underpinning them is still unproven.

Cryptocurrency 02 Mar 2018 | 12:00 AM

Singapore looking at rules for cryptocurrencies

SINGAPORE: Singapore’s central bank is assessing whether additional regulations are required to protect investors in cryptocurrencies, an official said in a speech.

Cryptocurrency 05 Feb 2018 | 12:26 AM

Lloyds Bank to ban credit card owners from buying cryptocurrencies

Lloyds Banking Group Plc said on Sunday it would ban its credit card customers from buying Bitcoin and other cryptocurrencies.

Cryptocurrency 19 Feb 2018 | 1:41 PM

Retail investors to bear brunt if cryptocurrencies fall sharply, says S&P

KUALA LUMPUR: S&P Market Intelligence views cryptocurrencies as a speculative instrument that would have an insignificant effect on global financial stability if its value were to collapse.

Cryptocurrency 28 Jan 2018 | 7:56 AM

Cryptocurrencies not substitute for gold

KUALA LUMPUR: Bitcoin and cryptocurrencies more generally are not a substitute for gold which is a tried and tested effective investment tool in portfolios, says the London-based World Gold Council.

Corporate News 30 Sep 2017 | 12:00 AM

Regulating cryptocurrencies

Cryptocurrencies are hogging the limelight. They are also creating a clear division in opinion. Because it essentially involves the raising of public monies, traditional finance professionals are pooh-poohing them. Top bankers are calling them the biggest fraud of the century. Its believers, though, are plodding along because no one is really stopping them.

Cryptocurrency 13 Feb 2018 | 8:53 AM

Gold trader gets Dubai licence to trade and store cryptocurrencies

DUBAI: Gold trader Regal RA DMCC has become the first company in the Middle East to be awarded a licence by the Dubai Multi Commodities Centre (DMCC) to trade in cryptocurrencies.

Cryptocurrency 08 Feb 2018 | 6:14 AM

Cryptocurrencies are like ponzi schemes, world bank chief says

WASHINGTON: The head of the World Bank compared cryptocurrencies to “Ponzi schemes,” the latest financial voice to raise questions about the legitimacy of digital currencies such as Bitcoin.

Cryptocurrency 04 Oct 2017 | 3:01 AM

Bank Negara deciding if cryptocurrencies should be banned

Kuala Lumpur: Bank Negara Malay­sia (BNM) is still deciding if cryptocurrencies should be banned altogether in Malay­sia.