Crypto investment is about six percent cheaper and costs less than $ 9,000. Investors have lost about 20 percent this week. What’s going on there?
In the face of increasing regulation by authorities worldwide, cryptocurrencies are coming under increasing pressure. The value of Bitcoin has fallen on leading trading platforms such as Bitstamp under 9000 USD. A drop of around six percent to $ 8,760 was recorded. This week, the Bitcoin lost a good fifth of its value. Other cryptocurrencies, such as Ripple or Litecoin, also fell significantly.
A crackdown by Japanese and US authorities against crypto exchanges is providing a downward pull. Japanese financial supervisors announced two trading venues on Thursday to cease operations for one month. Further exchanges filled them with penalties. In addition, they called on the big crypto-exchange Coincheck to tighten their action against money laundering. Furthermore, trading platform Binance had to stop trading temporarily because of a hacker attack.
In addition, the US Securities and Exchange Commission takes SEC crypto exchanges on the short leash. To protect investors and avoid fraud and tampering, crypto exchanges would have to obtain SEC filings or exemptions under certain circumstances in the future. Above all, “Initial Coin Offerings” should fall under it. In these “digital IPOs” companies are collecting money from investors who usually pay in cryptocurrencies.
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Categories: Crypto Currency