The recent market instability has compounded existing concerns about cryptocurrencies, including fears about the environmental impact created by things like bitcoin mining. Government officials also believe these cryptocurrencies make it easier for criminals to transfer money without detection. The market cap for cryptocurrencies topped $2 trillion (£1.4 trillion) for the first time this April, just a few months after it hit $1 trillion (£706bn).
White House reviews ‘gaps’ in cryptocurrency rules as bitcoin swings wildly