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Bitcoin May Face Tightening Scrutiny: Daily

CHINA PRESS

Bitcoin may face increased regulatory oversight following its exponential growth and investors should not blindly chase the Bitcoin rally, the state-run Economic Daily said in an editorial. Investing in Bitcoin is risky as it may become valueless should sovereign nations declare them illegal, the newspaper said citing "experts" it did not identify. The recent surge in Bitcoin's value is due to slowing supply and surging demand for non-traditional assets, but it lacks physical backing and guarantees by legitimate entities, the editorial said.

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