![]() ![]() Meanwhile, China imposed an almost blanket ban by prohibiting all cryptocurrency transactions in September.įor his part, Cunliffe compared the digital asset space to the US mortgage market that dragged the global economy to the brink of collapse, pointing out the sub-prime market was valued at around $US1.2 ($AU2) trillion in 2008. The International Monetary Fund in its report published Tuesday also warned about the growing risks in the space, including fraud, excess speculation, and potential “runs” on seemingly more stable assets.
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