CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

CEO of a top bitcoin exchange warns a crackdown on cryptocurrencies may be coming

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• • Jesse Powell, CEO of bitcoin exchange Kraken, said there “could be some crackdown” on cryptocurrencies.
  • U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions.
  • Cryptocurrencies have surged in value lately, with bitcoin hitting a record high price of more than $61,000 last month. 

Governments around the world may start to clamp down on the use of bitcoin and other cryptocurrencies, the CEO of a top crypto exchange has warned.A number of officials — from U.S. Treasury Secretary Janet Yellen to European Central Bank President Christine Lagarde — have sounded the alarm about the use of bitcoin for money laundering, terrorist financing and other illegal activities.

“I think there could be some crackdown,” Jesse Powell, CEO of Kraken, told CNBC in an interview. Cryptocurrencies have surged in value lately, with bitcoin hitting a record high price of more than $61,000 last month. The world’s most valuable digital coin was last trading Monday at around $60,105.

Read the full article at CNBC