On Tuesday, Agustin Carsten gave a speech in which he discussed cryptocurrency regulation. He, of course, is not the first public figure to come forward to discuss more regulation on virtual currencies. Recently, UK Prime Minister Theresa May announced that the UK plans to create new cryptocurrency rules. As for Carsten, the BIS general manager not only called for more regulation, but he also said Bitcoin (available on Coinbase) is a mixture of a bubble and a Ponzi scheme.

For those who don’t know, people have been calling Bitcoin (available on Coinbase) a speculative bubble for months. As for it being a Ponzi scheme, which is a fraudulent investment, there are a number of signs which point to it being one. However, there are also a lot of signs pointing to it not being. So, was Cartsen right for what he said? Very hard to say when the direction of this market changes every day.

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Caroline Harris is a third-year student at Capilano University in North Vancouver, CanADA. Having already completed an Associates Degree in Psychology, Caroline is working towards finishing her Bachelor’s degree in Communications. In preparation for working in the advertisement sector, Caroline is writing financial content and analysis. On a daily basis, Caroline works on articles regarding the following topics: finance, consumer, technology, and politics.