Why is Iceland such a hotbed for bitcoin mining and what repercussions has the glacial country seen from this activity?
The move comes over fears a plunge in the value of crypto currencies will leave customers unable to repay their debts.
The decision could pile pressure onto the competition.
The value of Bitcoin soared by 1,700 per cent at the end of last year. But are global, cryptocurrencies regulatable, and do they help criminals transact their business? Davos tackles this difficult subject.
Other cryptocurrencies plunged as well after reports South Korea and China could ban cryptocurrency trading.
Hyperinflation has pushed everyday Venezuelans to “bitcoin mining”, which operates underground.
Investors can now bet on the rise or fall of the cryptocurrency using bitcoin futures, which have started trading on a major regulated exchange.
Controversial cryptocurrency Bitcoin has broken through the 10,000 dollar mark, a 940% rise in value this year so far.
Virtual currency Bitcoin has soared to a new record high, more than doubling in value since the beginning of October.
The value of Bitcoin has increased more than tenfold over the past year