What is the Latest Bitcoin Price?
Bitcoin actually had an unpromising beginning in the new year as it dropped again after Lloyds Bank banned its customers from using their credit cards to buy cryptocurrencies. The question now is, what is the latest Bitcoin price?
Bitcoin dropped by 6% to $7,700 at 11:00 am, and also falling to $7,612 at 2:14 pm.
The fears of a global regulatory clampdown were indeed worsened by Lloyds’ announcement today that it will reject Bitcoin transactions on credit cards for its 9 million existing customers.
The United Kingdom (UK) high-street bank is concerned that it could be compelled to pay off unpaid debts if the present price fall in digital currencies continues.
Other popular names in the banking giant’s credit card family include MBNA, Bank of Scotland and Halifax.
The decision follows similar crackdowns by United State (US) banks including JP Morgan Chase & Co and Citigroup within the last week.
Unpredictability has also emerged from China, which reportedly launched a firewall to prevent people in the country from having access to the websites that offer cryptocurrency trading services or initial coin offerings (ICOs).
A reliable source from People’s Bank of China-affiliated Financial News explained today: “Overseas transactions and regulatory evasion have resumed.
“Risks are still there, fuelled by the illegal issuance, and even fraud and pyramid selling.”
If that was not bad enough, India could also screw up regulations.
S C Garg, India’s Economic Affairs Secretary, explained that CNBC TV18 news channel India’s government will regulate cryptocurrency exchanges to keep records of transactions conducted there.
This warning follows Indian finance minister’s vow last week to put an end to the illicit cryptocurrency trading.
A panel inaugurated by the government to look into issues relating to cryptocurrencies is anticipated to submit its report in the current fiscal year, ending on March 31.