Bitcoin is unlikely to escape regulation, Riksbank governor says


Riksbank's Governor Stefan Ingves says cryptocurrencies unlikely to dodge regulatory oversight due to the sheer popularity of the phenomenon. — REUTERS

Bitcoin and other cryptocurrencies are unlikely to dodge regulatory oversight as supervisory authorities respond to the sheer popularity of the phenomenon, according to the governor of Sweden’s central bank.

Though monetary policy officials have voiced near universal skepticism toward Bitcoin and its rivals, cryptocurrencies have continued to build an enthusiastic following. That’s prompted some of the biggest names in finance to move in, as Wall Street banks such as Goldman Sachs Group Inc. offer trading services tied to crypto.

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