The Treasury Committee will look at the potential risks that digital currencies could generate for consumers, businesses, and governments, including those relating to volatility, money laundering, and cyber-crime.
However the technology behind cryptocurrencies has been praised.
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Nicky Morgan, chair of the committee, said: People are becoming increasingly aware of cryptocurrencies such as Bitcoin, but they may not be aware that they are currently unregulated in the UK, and that there is no protection for individual investors.
FTSE 100 crisis: EVERY firm bar ones share price cut 11% drop BIGGEST since Black Monday
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FTSE 100 CRASH: 210bn wiped off shares in biggest drop since 2008
The market cap has dropped just short of $180 billion at $169,299,083,304, as the cryptocurrency fails to make up the ground it lost following a mass bitcoin sell-off.
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Bank of England Mark Carney said Bitcoin had failed but believed the technology which records and verifies the chain of transactions might prove useful.
Compare crypto currencies (Ripple, Bitcoin, Ethereum, LiteCoin) on value, market cap and supply for the past year
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Bitcoin price news: Will BTC hit $12k this week after sell off?
gigya.socialize.showShareBarUI(showShareBarUI_params)Express. Home of the Daily and Sunday Express.FTSE panic as Dow Jones on brink of being bear market with 20% plummetCADSCAN: Advanced manufacturer seeks to scale after diabetic foot care breakthroughJohn Lewis Partnership profits drop 23 percent – company slashes bonuses to save cashThe Treasury Committee will look into how consumers and Britains financial infrastructure could be protected.BITCOIN is in the red today after reaching highs of more than $11,0));700 on Tuesday. A recent-sell off wiped $1,$(componentDiv .gig-share-bar-containertr).append(commentIco),000 off its value but what is the value of Bitcoin today?UK snow warning: Snow storms to send shock waves across UK TODAY – flood warnings issuedNatwest pledges 5bn working capital support for business customers in coronavirusintent,,according to data from CoinMarketCap.However,commentIco).append($(spotCommentCounter .spot-im-replies-count).clone(!according to CoinDesks Bitcoin Price Index (BPI),334 on Wednesday.See todays front and back pages,slow,easeOutExpo);TrackComments:function()if(typeof st():$();$(.gig-button-container,onShareButtonClicked:function(e)ExpressApp.GoogleAnalytics.TrackEvent(social,February 22 after it peaked at $11,the cryptocurrency is still up at least 85 percent following the lows experienced on February 6.Barclays launches 50 million Adverse Weather Fund to support smaller firms and farmersThe cryptocurrency ran into offers above $11,order back issues and use the historic Daily Express newspaper archive.Coronavirus school closures: Parents ignore Boris advice and urge kids to stay at homeIts a revolution Cryptocurrency investors flock to Swiss townCopyright ©2020 Express Newspapers. Daily Express is a registered trademark. All rights reserved.0)ExpressApp.CommentKpiTracking.Start(),
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029.50 as of 2pm on Thursday,but the sell-off wiped more than $1,700 on Tuesday,000 is only a corrective rally inside the bigger downtrend.Eurozone circus: Barnier is like a clown trying to hide an elephant under a cloakBitcoinhas fallen to$10,download the newspaper,000 of its value.EPERNAY BRIDAL: Business dreams come true for the new belles of wedding wearFinancial crisis fears: EUs eurozone polluting world with collateral risk says expertBitcoin price news: What is value of bitcoin today? Why is BTC falling?Bitcoin price today: Why is Bitcoin falling today? Price crash amid coronavirus fearsFSTE 100 bounces 3 PERCENT on opening after worst day since Black MondaySteven Seagal in hot water over cryptocurrency claimsMany in the investor community believes BTC is still in a bear market and the sharp rise from the lows below $6,as other cryptocurrencies also moved into the red,BTC recorded an 8.98 percent drop in price in the last 24 hours.
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The news of the crash comes after MPs announced they were launching an inquiry into cryptocurrencies and the technology behind them.