Regulation catches up with Irish cryptocurrencies

Is the latest directive, requiring anyone dealing in cryptocurrency to register with the Central Bank, a sign of further changes yet to come?

The new directive aims to remove the anonymity which has long allowed criminals to exploit cryptocurrencies. Picture: Getty Images/iStockphoto

It’s a turbulent time for cryptocurrencies, but then, when hasn’t it been a turbulent time? Since its inception 12 years ago, bitcoin, widely considered to be the first cryptocurrency, has steadily then dramatically climbed in value and captured the public imagination.

Rivals including Ethereum, Litecoin, XRP and the unlikely contender Dogecoin are all making headlines for their celebrity endorsements and volatile swings in value.

Criminals are using these currencies to facilitate a surge in cybercrime, ...