RUSI NewsbriefVOLUME 39ISSUE 8members only

A Cryptic Challenge: Banking Virtual Currencies

Main Image Credit Courtesy of Yurok Aleksandrovich /

Banks, guardians of the integrity of the financial system, cannot hide from the risks posed by cryptocurrencies; they must learn to move on from a poor strategy of avoidance and de-risking. 

Cryptocurrencies and their use and potential abuse are rarely out of the headlines. In 2017, the rapid and steep rise in the price of cryptocurrencies such as Bitcoin – at one point reaching a value of $19,783 before crashing to $6,000 just three months later – drew wide public and media attention. There has been a regular diet of press coverage more recently, with stories ranging from the plans announced by Facebook to create a new global currency powered by blockchain

lockmembers only content

Continue reading by joining RUSI

View membership options

Join the World’s Leading Defence and Security Community

  • A busy programme of members' only events
  • Access to a suite of RUSI publications
  • Access to experts, networks and research teams

Already have an account?


Tom Keatinge

Director, CFCS

Centre for Financial Crime and Security Studies

View profile

Kayla Izenman

View profile

Explore our related content