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International Monetary Fund (IMF) Start Speaking Bitcoin About

Written By Hanny & Melissa on Monday, February 12, 2018 | Monday, February 12, 2018

Do you still remember the Wanacry Ransomware virus attack that had splashy a few months ago? The perpetrator of terror of the virus spreader then requested a ransom to the victim's computer owner.

They demanded ransom of about US $ 300 only in the form of Bitcoin, not in other currencies. Every day, the perpetrator insists on a ransom with an increased value.

If not met then the victim's data will be deleted.Bitcoin is used, as it has a more difficult system to track when compared to conventional financial systems.

In Indonesia, in 2015 there is also a blackmail that requires a fee of 100 Bitcoin. At that time, the perpetrator of the bombing in Mal Alam Sutera sent an extortion email to the mall management asking management to send money in the form of Bitcoin.

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Of the 100 requested, the management only send 0.25 Bitcoin. From there Leopard was traced and finally caught by the Police.

In addition to ransom, in the Netherlands, Bitcoin has also been used as a means of money laundering worth US $ 22 million for online drug sales transactions.

The drug dealer is transferring conventional money to Bitcoin to transact in a marketplace or shopping site on Dark Web.

Bitcoin is claimed to be easier to use because users from any part of the world can trade without needing to pass through the bank's network, making it difficult to detect.

Maybe addressing the problems that have occurred due to bitcoin in different parts of the world, making IMF leaders Christine Lagarde spoke about the bitcoin regulations, as quoted from the online media in Indonesia, the following quote:

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International Monetary Fund (IMF) Christine Lagarde stated, only a matter of time before the virtual currency is regulated by the government.

The arrangement of the virtual currency was also recognized Lagarde unavoidable. "This is unavoidable, this is definitely a domain that needs international regulation and proper supervision," Lagarde said on the sidelines of the World Government Summit meeting in Dubai, as quoted by CNN Money, Monday (12/2/2018).

Lagarge said, there is the possibility of dark activity done with a virtual currency. Therefore, setting is absolute. He also said, the IMF is actively trying to prevent the use of virtual currency for money laundering or terrorism financing. However, Lagarde holds that regulators should not focus on their entities, but rather on their activities.

The virtual currency has been operating without any rules since bitcoin was launched in 2009. However, now governments and central banks in many countries are starting to pay attention to virtual currency, and warn investors about potential crime or fraud.

In December 2017, the Securities and Exchange Commission of the United States and the Federal Investment Bureau (FBI) began tracking crimes related to fund raising by companies and virtual currency traders.

Meanwhile in Asia, China and South Korea also began to limit the virtual currency trading space. In the Asian region alone, virtual currency is very popular. In India, there are rumors regarding the possibility of a virtual currency ban. This news makes the price of virtual currency increasingly volatile.

In the World Economic Forum in Davos, Switzerland some time ago, a number of high-ranking officials and state leaders also threw signals of regulation of the virtual currency. "We support fintech (Technology-based financial services) and innovation, but we want to ensure that all financial markets are safe and not used for illegal activity". Said US Treasury Secretary Steven Mnuchin.

British Prime Minister Theresa May also made similar opinions with Mnuchin. He said his government would be very concerned about the virtual currency.
"The main way (Virtual currency) is used, especially by the perpetrators of crime". Explained May, (Kompas/ auth)


Until at 15:05, bitcoin prices are in the position of 8,500 US dollars. This figure fell about 40 percent compared to the position in the last month. Meanwhile, the price of ethereum was at the position of 852.77 US dollars. Litecoin and ripple prices are respectively at the position of 154.59 US dollars and 1.07 US dollars.

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