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UK Treasury looking to regulate Bitcoin

04/12/2017

The news that the UK Treasury is to look at ways of regulating the Bitcoin market was shrugged off by BTC bulls.

The main concern of the UK is the anonymity afforded BTC buyers, which of course makes it an ideal medium for conducting shady business. Quite how the new regulatory environment is going to prevent this has yet to be outlined, but it may be worth noting that this has proved no impediment to the 400% rise in value of Bitcoin since China took similar steps. The market volatility seen after this news filtered out merely underlines the fragile nature of liquidity in the fledgeling market, but any dips are still seeing buyers as demand is demonstrably greater than supply. BTCUSD is currently resting near yet another new high at $11,400.

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