The domino theory has ended up knocking down the cryptocurrency market in the last hours. The offensive of the Administration of Donald Trump against the pound, the virtual currency designed by Facebook, has plummeted the bitcoin, the most emblematic and known cryptocurrency. In just eight days, their quotation has sunk by 24% and has lost the livelihood of the $ 10,000. And in its fall, the bitcoin is dragging the smallest.
The second most important, Ethereum, has lost half its value. The third in the ladder, Ripple's XRP, is leaving more than 40%; and Litecoin and Bitcoin Cash have plummeted 40% and 42%, respectively.
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Since Trump published last week his tweet in which he criticized the cryptocurrency, ensuring that they are not money and that their deregulation can be fertile ground for criminal practices such as money laundering or drug trafficking, the offensive has not stopped. Monday was Treasury Secretary Steve Mnuchin, who warned that he will not allow his operators to work in the shadow given his potential criminal character. And yesterday it was the Senate that rejected the Facebook project because of the breaches in the security of its users that it has suffered in recent times.
The group of skeptics with cryptocurrencies has joined today the G-7, whose finance ministers are meeting in the French town of Chantilly. The club of the richest countries in the world has also expressed doubts about the deregulation of the pound. So far apart in other matters, France and the United States agree in this case on the need to regulate these goods. The French Minister of Economy and Finance, Bruno Le Maire, has stated about the cryptocurrency of Facebook that "we can not accept having any exchange currency with the same type of power as the sovereigns. It is necessary to regulate and, at the moment, the pound does not meet the requirements ". "We must act quickly, but I am convinced that it can not move forward without all legal and regulatory doubts having been resolved," added Finance Minister Olaf Scholz.
The governor of the Bank of Japan, Haruhiko Kuroda, added that "if the pound aspires to be used globally, the countries must coordinate to give a joint response. It is not a question that we can discuss the G-7 finance ministers alone, "Kuroda added.