Bitcoin's volatility may dim its appeal; China's crypto crackdown

TITLE PLACEHOLDER | Cyber In :60 | GZERO Media

Marietje Schaake, International Policy Director at Stanford's Cyber Policy Center, Eurasia Group senior advisor and former MEP, discusses trends in big tech, privacy protection and cyberspace:

Should Bitcoin enthusiasts be alarmed at its plunging value?

Well, I can only imagine it makes them a little less enthusiastic, although the value of Bitcoin is still a lot higher than it was a year ago. So I guess the level of concern much depends on when the enthusiasts started to invest in this volatile currency, which is also seeing more and more regulations coming its way. So if people choose to get out now, it further pushes down the value and so on. I'll be watching what happens next.

Why is China cracking down on cryptocurrency trading?

Well, the Chinese government, not unlike central banks and regulators in other parts of the world, is concerned about the monetary policy effects of massive value creation without oversight. So after a period of a hands-off, watch-and-see approach all over the world, calls for regulation or the creation of digital currencies that are tied to central banks are now taking up. The Basel Committee lamented the creation of walled gardens and big tech for working against the public interest and said Bitcoin in particular has few redeeming public interest attributes when also considering its wasteful energy footprint. So regulation of Bitcoin is coming from different angles and there is no escaping it.

More from GZERO Media

U.S. President Donald Trump, German Chancellor Friedrich Merz and NATO Secretary General Mark Rutte at a NATO leaders summit in The Hague, Netherlands June 25, 2025.
REUTERS

The two-day NATO summit at the Hague wrapped on Wednesday. The top line? At an event noticeably scripted to heap flattery on Donald Trump, alliance members agreed to the US president’s demand they boost military spending to 5% of GDP over the next decade.

Members of the Basij paramilitary force hold Iranian flag, Lebanese flag, and various militia flags, during a rally commemorating International Quds Day in downtown Tehran, April 14, 2023.
Morteza Nikoubazl via Reuters Connect

As the world reacted to Israel and the US bombing Iran’s nuclear facilities last week, one group was largely silent – Iran’s network of allied militias in the Middle East.

Across North America and Europe, blackouts are becoming more common, often hitting when the demand peaks or when the weather turns extreme. The surging demand for power and new energy sources are putting pressure on the energy systems. Meeting today’s energy needs takes a flexible, pragmatic, “all-of-the-above” approach — drawing on all fuels and technologies. Learn how Enbridge is delivering reliable, affordable energy in uncertain times.