Home Business News Bitcoin prices slide amid regulatory crackdown

Bitcoin prices slide amid regulatory crackdown

by Purvai Dua
22nd Jun 18 3:51 pm

Here’s what happened in Japan

Bitcoin prices fell almost 9 per cent today after Japan’s financial regulator ordered several cryptocurrency exchange regulators to take steps against money laundering and terrorist financing.

Folowing the crackdown, the digital currency was trading at $6,150, according to CoinDesk.

The Financial Services Agency said that it found problems in the security system of bitFlyer — the country’s largest crypto exchange— including its measures to prevent money laundering and unauthorized access.

To tis, bitFlyer stated:”Our management and all employees are united in our understanding of how serious these issues are, as well as how serious we are in responding to them going forward.”

“In order to maximize our efforts towards building a suitable service and improving on the issues identified, we have temporarily suspended account creation for new customers of our own volition,” it added.

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