"Wild Wild West"
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Market data giant IHS Markit is steering clear of cryptocurrencies until the sector gets formal regulation.
Lance Uggla, CEO of the $20 billion company, told Business Insider at the Innovate Finance Global Summit in London this week that cryptocurrencies are "very speculative at the moment" and the market is "no different to a lot of young people that like to bet on the football."
Read the full report by Business Insider's Oscar Williams-Grut.
Here are the current crypto prices:
What's happening:
- Cryptokitties, which is like Beanie Babies on the blockchain, just got $12 million from Andreessen Horowitz
- Russia secretly helped Venezuela launch a cryptocurrency to evade US sanctions
- Bitcoin spikes after G-20 expresses no desire for crypto oversight
- Has the cryptocoin market met its match in the Securities and Exchange Commission?
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See Also:
- 9 famous predictions by Nostradamus that some people say foresaw the future
- Bitcoin's rough patch looks like the Nasdaq during the tech bubble — except it's moving 15 times faster
- Bitcoin is dangerously close to a 'death cross' formation that could send it tumbling
SEE ALSO: Google is banning all bitcoin, ICO, and cryptocurrency ads starting in June
