Don't write it off just yet
If it's harder to trade them and harder to market the sector, does that mean problems lie ahead for cryptocurrencies? Some experts certainly think that such crack downs will help to burst the bubble and spell trouble for the future of the market.
However, it shouldn't be forgotten that the price of Bitcoin is still high – probably much higher than many would have thought possible at the start of 2017 – and new rival cryptocurrencies have also shown strong growth. While a series of regulations might keep price growth in check, there's an argument to be made that both of these measures will help cryptocurrencies in the long run. If new rules can convince investors that the asset is safe – and scams can be eradicated (or at least reduced) – then that improves the image and long-term prospects of the market as a whole.
Indeed, Twitter CEO Jack Dorsey went as far as to predict that – over the next decade or so – Bitcoin might come to be the only currency used for internet transactions. That prognosis is certainly brighter than some – but it goes to show that it'd be wrong to ignore cryptocurrencies, especially on the back of news that doesn't necessarily need to be negative in the long term.
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