With falling values and rising regulatory scrutiny, some fear a bleak future for digital currencies.
Read moreCryptocurrency
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Chris Baraniuk
Technology reporter
The International Monetary Fund says the tiny nation should rethink adopting a digital currency.
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Bitcoin continues to decline, amid reports that the US bank will shelve plans to establish a crypto trading desk.
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The Bitfi cryptocurrency wallet, backed by John McAfee, had already caused controversy.
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Rob Young
Business reporter
Experts doubt that lopping five zeroes off the currency will solve its economic woes anytime soon.
Read moreMatthew Wall
Technology of Business editor
Bitcoin's price rises and falls wildly, making it high risk. Is there a more stable alternative?
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The change means apps that let people mine coins on their phones will soon be purged.
Read moreFinance regulator issues digital coin guidelines
Ryan Morrison
BBC News Online
Jersey's financial services regulator has issued new guidelines for companies wanting to use the island to raise money through digital currency.
There has been a sharp rise in companies using "Initial Coin Offerings" or ICOs to raise money for their business.
An ICO allows a company to issue a digital token, such as Bitcoin, that investors can purchase. That money goes to the company and, if the coin does well, the investor makes money.
It is an alternative to more traditional ways of raising money for a company, such as venture capitalism or stock options.
The Jersey Financial Services Commission (JFSC) has warned investors that ICOs can be volatile. It has made it easier for companies to register an ICO in the island while also ensuring protections are in place to avoid criminal activity.
It has not gone so far as to regulate ICOs, said it would impose minimum standards on the companies issuing them.