Huw van Steenis, the senior adviser of Bank of England stated that cryptocurrencies are failing the ‘’fundamental tests of financial services.’’

Jeff Schumacher, founder of BCG Digital Ventures said that Bitcoin would go to zero.

83 cryptocurrencies have lost value in 24 hours following the statements.

Bitcoin dropped by 0.88%, depreciating to $3,573.

Among the top 10 cryptocurrencies, only Tron appreciated.

Jeremy Allaire, CEO of cryptocurrency platform Circle also commented on the issue.

“Crypto is fundamental to the future; we need tamper-proof, resilient, decentralized infrastructure if we want society to survive the digital age,” Allaire said.

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It was stated that U.S President Donald Trump won’t attend the summit because of partial government shutdown and furloughed workers.

The federal has been closed for two weeks because of disagreements on financing Trump’s border wall plan.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

May will hold calls from EU leaders throughout next week and focus on Brexit.

On Tuesday, UK Parliement rejected to come to terms on Brexit decision.

If UK leaves EU on 29th of March without making an agreement, it will have difficulties in various areas.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.