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Mobius Foresees Cryptocurrency Crackdown Sparking a Rush to Gold

  • Digital currencies are starting to get “out of control”
  • China’s central bank ruled initial coin offerings illegal
Bloomberg business news

A Look Inside One of the World's Biggest Bitcoin Mines

Mark Mobius is sensing danger in the explosive growth of cryptocurrencies.

Governments will begin clamping down on digital currencies because of their use in illicit financing, with terrorist groups to drug dealers contributing to their rise, Mobius, executive chairman at Templeton Emerging Markets Group, said in an interview in Hong Kong Monday.