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.
