Bitcoin price: Europol demands laws to end ‘perfect scams’ exploiting cryptocurrency mania | City & Business | Finance

Bitcoin, Ripple and ethereum’s prices skyrocketed towards the end of 2017 leading legislators to create a series of regulations to safeguard investors from online trading scams.

Bitcoin had a value of just $954 in January last year but saw its price soar more than 1,500 percent throughout 2017 attracting the attention of hackers and online criminals – with experts warning about the potential risks of investing in unregulated cryptocurrencies.

Europol boss Rob Wainwright has called on international governments to create new laws to crack down on crypto criminals creating schemes exploiting the cryptocurrency craze to scam investors.

He said: “We need the help of regulators. We need the help of legislators particularly to crack down on these high-value investment scams and this trend of fool’s gold effectively that is offered to people as they seek to cash in on the bitcoin frenzy.

“Cryptocurrency schemes are just scams, perfect scams.”

Bitcoin hit highs of $20,000 in December but…

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