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The central bank of Peru says that cryptocurrencies are risky due to the high volatility

Central Bank of Peru he reacted the recent crypto markets are alarming on the high volatility of digital currencies on its Twitter on Friday, November 16th.

In its recent post, the Peruvian central bank has included Bloomberg graphics on the price of Bitcoin (BTC) from December 2017 to mid-November 2018. The picture is followed by a statement:

"Cryptocurrencies are not supported by central banks and involve risks due to high price volatility, frauds and their possible use in illicit activities: the price of Bitcoin has fallen by 56% since October 2018 and lost another 13% in November. "

According to the Spanish crypto-toxic Criptonoticias, Peru is not currently developing any type of encryption. However, in September 2017, the Soprintendenza for banks and insurances (SBS) of the country joined the R3 consortium on the blockchain to conduct research on technology and study its possible implementation in Peru.

In addition, the number of cryptographic operators in Peru has grown steadily in 2018. According to data provided by the Criminographic statistics site Coin Dance of LocalBitcoins, the year started with about 17 BTC exchanged weekly in Peru, but at the end of September the # 39; amount reached nearly 150 BTC per week.

The amount of BTC exchanged weekly in exchange for the national fiat, the Peruvian sol. Source: Coin Dance

The crypto markets have recently seen a sharp decline since Wednesday, November 14, with BTC losing less than $ 5,000 for the first time in 2018 and other major cryptocurrencies, such as Bitcoin Cash (BCH), losing up to half the price. Today, November 20, BTC has reached its lowest level since October 2017, falling to $ 4,237 at some point in the last 24 hours.

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