European Central Bank (ECB) President Christine Lagarde took aim at Bitcoin's role in facilitating criminal activity, saying the cryptocurrency has been enabling "funny business". Bitcoin prices have more than doubled since November and topped a record $41,000 (€33,700) earlier this month. Central banks, including the ECB, are increasingly focused on developing their own digital currencies. Concerns over money laundering and the ability of financial firms to know the identities of their clients have been at the forefront of the cryptocurrency debate. The market's volatility has whipsawed investors over the past few days, with prices falling as much as 6.8pc during the Asia session.

Source: Irish Independent January 15, 2021 02:39 UTC