Friday, December 6, 2019

CryptoMarket Falls Again In Wake Of Binance’s Japan Incident

BTCNN aim to be the key source for both digital currency experts and newbies. With the cryptocurrency industry growing so fast we want to educate our readers about all the latest developments as they happen.

Today, the cryptomarket awoke to some troubling news. The bitcoin price rescinded about 5%, being the most visible cause the announcement By Nikkei that Binance would be halting its operations in Japan. This occurs after a short bull period in which Bitcoin touched again the 9.000 dollars mark. Ethereum also experienced a notable drop to 530 dollars.

All main cryptocurrencies are down

The announcement of the (supposed) Binance cease of operations in Japan, could have had a negative influence on the market dynamics. The news was given by Nikkei and supposedly informed by a source in the FSA, due to the exchange not complying with the regulations of the country about licensing and KYC policies. Binance is a big player in the exchange world, so anything happening with this behemoth strikes the market in a big way.

Also, the Payza incident that happened yesterday could have affected the market in a negative way. As reported, the crypto exchange and direct competitor of Paypal, Payza was accused yesterday of acting without a license, money laundering and serving clients like Ponzi schemes and child porn rings knowingly. The service integrated bitcoin payments since 2014 and had recently scored a partnership with Dash to provide wallet services.

The market is still as volatile as ever, and it will remain to be so in the near future. So, if you’re not a hodlr, exercise extreme carefulness when investing in cryptocurrencies.

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