By Sarah McBrideRead more”In terms of technology, bitcoin is a big one,” he said.
“It’s one of the most well-known and well-supported coins.”
The value of bitcoin in the past year has increased by more than 4,500 percent from its initial value of $15,000 in 2012.
The currency has been used as a payment method for illicit activities, such as money laundering and online scams.
According to McBride, “bitcoin is a great way to make money” because it is an anonymous currency, but “you also need to be careful because it’s also a very volatile currency”.
“It’s also very hard to monitor it, so you need to use it sparingly and in the right way,” he added.
While bitcoin has been widely used by criminals and others in the online and payments space, it is increasingly becoming a target for governments and central banks.
Bitcoin is also a target of governments and regulators, with its price rising in recent months, including by more then 500 percent in March and June.
A recent report by a group of experts at Oxford University found that cryptocurrencies were becoming more popular and widespread, despite concerns about their use as a means of payment.
The report, “Cryptocurrencies: Threats, Regulations, and Reforms”, was published in July.
The Oxford group said that “cryptocurrency use is rising across most OECD countries and, to a lesser extent, in the US and Japan”.
“Despite this, governments are not using cryptocurrencies to reduce their own risk,” it said.
“Rather, they are using them to make illicit money.
Governments should consider the risks of unregulated cryptocurrencies, including potential fraud and security risks.”
While governments are taking steps to tackle the risks associated with cryptocurrencies, they have not yet acted on the broader issue of their potential to harm the global economy.
Bitcoin’s price has also been a target in recent years for regulators, who have urged banks to clamp down on its use and to regulate its use.
“I don’t think we’re there yet in terms of regulations and legislation, but we’re moving towards that,” McBride said.
The experts cited as an example a US law passed in October 2017 which will make it a crime to trade in or transfer any virtual currency without a license, and another that will require virtual currency exchanges to be registered and meet strict security standards.
“These are some of the regulations we have to deal with,” he continued.
“The regulators have to make sure they’re doing the right thing.”
Bitcoin’s growth and volatility are making it a growing target for regulators.
While McBride’s research found that “the bitcoin price has gone up a lot over the past three months, we don’t know if that’s because it has been the catalyst for bitcoin’s growth, or if there’s something else,” he suggested.
“What I would say is it’s the combination of the two,” he concluded.