Tougher Rules Are Coming For Bitcoin And Other Cryptocurrencies. Here's What To Know
The country's top market watchdog has promised tougher scrutiny of virtual currencies, but we still don't know what will be unveiled.
For many people, cryptocurrencies like Bitcoin are part of an exciting and lucrative new financial frontier. But for the country's top market watchdog, Gary Gensler, they seem "like the Wild West" – and he's promising a crackdown.
The market for cryptocurrencies has ballooned. It is currently estimated to be worth about $2 trillion, thanks to the exploding popularity of Bitcoin and other virtual money like Dogecoin.
Amateur investors, particularly younger ones, have started buying and trading cryptocurrencies, attracted to the thrill of big returns. In the past year, the value of Bitcoin has risen 300%. And cryptocurrencies are increasingly also attractive to traditional investors.
But the cryptocurrency market
