The growing
popularity of cryptocurrencies in Southeast Asia has governments struggling
with the question of how they should be regulated. As cryptocurrencies are privately
controlled and not considered legal tender in most countries, the question of
governance presents new challenges for financial regulators.
Southeast Asian governments
need to coordinate and act quickly, as cryptocurrencies increase the risk of
fraud in the growing e-commerce industry and have also already been used to
channel finances to terrorist groups.
ASEAN countries need to act quickly on cryptocurrency
policies
The popularity of
cryptocurrencies is growing in parallel to the growth of e-commerce in
Southeast Asia. However, ASEAN countries have yet to take a proactive approach
SAN FRANCISCO, Feb 13 Twitter chief Jack Dorsey yesterday put out word that he and rap mogul Jay-Z are creating a fund devoted to making bitcoin digital money “the internet’s currency.” Dorsey, who is also founder and chief of financial services and mobile payments firm Square, said in.