Cryptocurrencies backed by big internet companies could come under the scrutiny of antitrust regulators, the head of Germany’s Federal Cartel Office said on Thursday after Facebook last week launch its own version.
Australia’s tax authority is stepping up its effort to police the use of cryptocurrencies, fearing many investments and gains are not correctly declared.
Companies found to be in violation of the rules could be subject to fines or prosecution, the CAC, which issued draft rules in October, added in a statement.
Extracting a dollar’s worth of cryptocurrency such as bitcoin from the deep Web consumes three times more energy than digging up a dollar’s worth of gold, researchers said Monday.
October 31, 2008 marked the birth of bitcoin. Ten years on, the world’s first cryptocurrency is at the forefront of a complex financial system viewed warily by markets and investors.