Hard interventions against bitcoins

- The net is increasingly closing around bitcoins. Countries restrict trade in the so far unregulated crypto coins and financial derivatives. That can lead to a crash, warn asset managers.

Such narrowing by financial supervisors is likely to make a 'giant correction', according to the Swiss merchant bank UBS. His economist Axel Weber warned Wednesday for the total impoldering of the coin.

Japan blocked futures on bitcoins and other digital coins on Tuesday night, while those on American stock exchanges received CBOE and CME. Japan was the escape hill for many Asian traders after China and South Korea had significantly curtailed trade and crypto coin platforms.

Goldman Sachs warned the market that if the bitcoin market collapses, this could have major consequences for the South Korean economy.

China announced Wednesday tough measures against pyramid structures with the coins, while the Chinese national bank to block the complete trade.

AFM director Merel Vroonhoven also sounded the alarm in the run-up to the parliamentary committee meeting about big losses among investors with bitcoins and other crypto coins. She pleads with MPs for a ban on derivatives on cryptocurrencies, such as the CFDs, the contract for differences, with which investors with large leverages can make large profits but also losses.

In South Korea, where investing in currencies became almost a national sport, the regulator intervened several times in bitcoin payments. Crypto coins such as the bitcoin may from now on only be settled via a bank account if the seller and seller are known by name. That should prevent money laundering by criminals.

The crypto world in Asia focused early Wednesday morning all attention on BitFlyer, with 30% interest one of the largest bitcoin platforms. This was given a so-called Payment Institution license to be able to trade in the European Union. It starts with bitcoin / euro transactions, and follows with litecoin and ethereums.

Regulators worldwide are looking for measures to limit the crypto coins. The G20 meets in March, the meeting of large industrial countries. At the request of the European supervisor ESMA, new interventions will be coordinated.

Asset manager Nordea went a step further on Tuesday and forbade staff to trade in bitcoins and other cryptocurrencies.