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Bitcoin Positive, Japan Pushes 7 Cryptocurrency Exchanges Over Regulatory Lapses -

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    • Bitcoin Positive, Japan Pushes 7 Cryptocurrency Exchanges Over Regulatory Lapses
Mar, 08th 10:39

Bitcoin took a hit last night after the US Securities and Exchange Commission (SEC) announced it will require digital asset exchanges to register with the federal agency.

Prices plunged by more than $1,000 in the space of an hour, falling from $10,673.03 at 4.40pm GMT to $9,481.45 by 5.22pm GMT on Wednesday.

Japan on Thursday punished seven cryptocurrency exchanges, ordering two of them to suspend business, in an effort to shore up consumer protection after the $530 million theft of digital money from Tokyo-based Coincheck Inc.

The Financial Services Agency criticized the exchanges for lacking the proper internal control systems and ordered them to make improvement in areas from risk management to prevent the criminal use of digital money.

The exchanges included Coincheck, served with its second such notice since it was targeted in the late-January heist, and GMO Coin, run by GMO Internet Inc (T:9449). Two exchanges, Bit Station and FSHO, were ordered to halt operations for a month from Thursday.

On the technical charts, BTC/USD is trading in the positive zone but below all the moving averages (9 day, 20 day, 50 day, 100 day, and 200 day). The RSI is at 46.93 and the MACD is above the signal line.

Trade suggestion:

Buy digital Call options between 9796 and 9950, valid until 23:00 GMT March 8, 2018