Bitcoin prices fall after a regulatory agency in Japan ordered several cryptocurrency exchanges to review their business practices.
Bitcoin prices fell roughly 9 percent Friday after Japan’s financial regulator ordered several cryptocurrency exchanges to improve their practices against money laundering.
The digital currency was trading at $6,150, according to CoinDesk, breaking below $6,400 for the first time in about a week.
The order from Japan’s Financial Services Agency led bitFlyer — the country’s largest crypto exchange — to suspend the creation of new accounts while it makes improvements, especially in its measures to stop money laundering and terrorist financing.
« 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, » bitFlyer said in a statement on its website.
Bitcoin’s Friday performance
Source: CoinDesk
« 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, » bitFlyer said.
