The nub of the problems the authorities are considering is that digital currencies are behaving more like an investment than simply a way to pay. Supercharged increases in the value of bitcoin and ethereum, the two largest digital currencies, have recently driven the total value of cryptocurrencies to more than $100bn. The original digital currency is trading at around $2,778.39, but future values for Bitcoin Cash are just $288.35, or 0.103 of a bitcoin. US authorities also linked him to the failure of Mt Gox, the Japan-based bitcoin exchange that collapsed in 2014 after being hacked. The brothers have since become involved in several cryptocurrency businesses and lobbied the SEC for clearance to launch a fund built to track the digital currency.

Source: The Guardian July 31, 2017 15:54 UTC