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Fintech Headlines

The bigger cryptocurrencies get, the worse they perform: BIS

Cryptocurrencies are not scalable and are more likely to suffer a breakdown in trust and efficiency the greater the number of people using them, the Bank of International Settlements (BIS)said on Sunday in its latest warning about the rise of virtual currencies.

U.S. agency asks judge to rule virtual currency is commodity

The U.S. Commodity Futures Trading Commission on Thursday urged a federal judge to conclude that an obscure virtual currency called My Big Coin is a commodity subject to its oversight, saying it is no different than precious metals like gold.

U.S. SEC official says ether not a security, price surges

The price of ether rose on Thursday after a senior official at the U.S. Securities and Exchange Commission stated that the cryptocurrency was not a security, thus exempting certain transactions in the token from federal securities laws.

Bitcoin tumbles as hackers hit South Korean exchange Coinrail

South Korean cryptocurrency exchange Coinrail said it was hacked over the weekend, sparking a steep fall in bitcoin amid renewed concerns about security at virtual currency exchanges as global policy makers struggled to regulate trading in the digital asset.