Is China's crackdown on initial coin offerings (ICOs) down to capital flight concerns or does the Chinese government have bigger concerns with digital currencies?
Is the ICO market, like the Chinese mainland property market, a big bubble created by speculators that is likely to burst at any time? Or does the Chinese government want to reduce cybercrime and know tightening up on digital currencies will help.
Making ICOs illegal helps stop capital flight but it looks like they are leaving the broader issue of digital currencies fuelling cybercrime alone for now.
Bitcoin is the currently the digital currency of choice by the global criminal underworld. They need a way to obfuscate their illicit behaviour, especially in regard to their cybercrime activity.
Private and public sector organisations may want to pay more attention to their users interaction with digital currencies, as it may be a leading indicator of nefarious activity.
How many organisations today focus their User and Entity Behavior Analytics (UEBA) on this type of activity?
A crackdown on initial coin offerings (ICOs) in China has caused the value of Bitcoin to drop below the $5,000 mark. ICOs have been declared illegal by the People's Bank of China, the autocratic nation's securities regulator, due to concerns regarding financial fraud and general criminal activity.