The Japanese additional regulatory uncertainty has hitted Bitcoin anew.
Bitcoin falls back below $9,000 after Japan adds to regulatory uncertainty, based on the latest market performance outlook.
According to CoinDesk’s bitcoin price index, the cryptocurrency hit a low of $8,495.10 and was trading 3 percent lower near $8,600 as of 11:42 a.m. ET.
Japan’s Financial Services Agency plans to issue a warning against Hong Kong-based cryptocurrency exchange Binance for operating in the country without registration, Reuters reported Thursday, citing a source familiar with the matter.
“We are in constructive dialog[ue] with Japan FSA, and have not received any mandates,” Binance CEO Changpeng Zhao said in a tweet.
Japan requires cryptocurrency exchanges to register with the government.
In a local media report says that Japan’s National Police Agency has found 149 cases of cryptocurrency hacks last year, for a loss of 662.4 million yen ($6.3 million), primarily involving ripple. The agency did not immediately respond to a CNBC request for comment outside of Japanese business hours.
On Monday, Japan’s Financial Services Agency said it held a “Blockchain Round-Table” on March 8 and 9 with regulators and policymakers from countries such as Singapore and Canada. The agenda for the closed-door meeting included discussion of vulnerability issues of the public blockchain and coordination between regulators and academia.