Peru’s Central Bank Says Cryptocurrencies Are Risky Due to High Volatility

Peru’s central bank has reacted to the recent crypto markets collapse by warning about the high volatility of digital currencies on its Twitter Friday, Nov. 16. In its recent post, the Peruvian central bank included Bloomberg graphics on Bitcoin’s (BTC) price from December 2017 to mid-November 2018. The picture is followed by a statement: “Cryptocurrencies are not supported by central banks and pose risks due to the high volatility in their price, fraud cases and their possible use in illicit activities. Bitcoin’s price fell 56% as of October 2018, and…