The price of Bitcoin plunged this morning Britain’s Prime Minister and Chancellor of the Exchequer called for new laws and regulations to control cryptocurrency trading. Yesterday, Theresa May prompted fears of an imminent crypto-crackdown after saying the government should be ‘looking very seriously’ at virtual currencies and their use by criminals.

Chancellor Phillip Hammond then explicitly called for regulations to govern the trading of Bitcoin, whilst also praising this potential of the blockchain technology which powers it. The politicians were speaking from the Swiss town of Davos, where they are attending a gathering of the globalist elite called the World Economic Forum In the early hours of this morning, the price of Bitcoin began a slide which saw it lose about 10 percent of its value as it dropped from a high of about $11,600 to a low of just over $10,500.

The price of Ripple, Ethereum and hundreds of other cryptocurrencies also nosedived. MORE: Elite banker calls on governments to control Bitcoin trading with strict cryptocurrency laws Prime Minister Theresa May, who has already inspired the creation of a cryptocurrency minted in her name, said: ‘I think in areas like cryptocurrencies like Bitcoin we should be looking at these very seriously precisely because of the way they can be used, particularly by criminals.

‘It is something that has been developing. I think it is something that we do need to look at.’ Separately, Hammond said: ‘I am interested in Bitcoin.

The Bank of England, as you know, among the central banks, has been leading on looking at Bitcoin. ‘Look, it is a very interesting, new development. Read more from…

thumbnail courtesy of