White House says it is monitoring rise of cryptocurrencies; IMF seeks its regulation
The IMF spokesman Gerry Rice said cryptocurrencies, including ICOs; including the initial claim offerings, should be subject to appropriate regulation and supervision.
Investors in the US and globally have been investing massively in cryptocurrencies, bitcoin in particular.
Amidst bitcoin crossing the $10,000 mark in recent days, the White House on Friday said it is monitoring the development while the International Monetary Fund underscored the need of regulations of cryptocurrencies. Being billed as an alternate digital currency, cryptocurrency is a medium of exchange using cryptography to secure the transactions and to control the creation of new units.
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