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A slumping market across most cryptocurrencies is being blamed on Japan's Financial Services Agency (FSA) requring exchanges to make improvements to the Japanese trading platforms' anti-money laundering practices.
The FSU has been asking for exchanges to come into compliance since April and it was not immediately clear why some have yet to do so.
Observes believe that ultimately Japan's cryptocurrency market will grow healthier with these actions. In the short term, however, concerns seem to be ratting the market.
From Bitcoin.com News:
Just a few days ago digital currency market prices were reversing northbound after the extremely bearish first two weeks of June. Now markets are once again being attacked by bears, and most of the top cryptocurrencies are seeing deep losses over the past day. Bitcoin Core (BTC) values have tumbled 8.5 percent over the last 24-hours and the currency is down 6.3 percent over the last week. Bitcoin Cash (BCH) markets are also down 12.5 percent during the past day, and over the last seven days BCH is down 11.7 percent.
- Aaron Goldstein, Gambling911.com
