US & Japanese Financial Regulators Send Tough Message To Cryptocurrency Industry
This week US & Japanese financial watchdogs sent a tough message to the cryptocurrency industry. Japanese regulators ordered Bitstation and FSHO, two popular cryptocurrency exchanges to stop doing business for a month and they also ordered five others to improve their internal security controls. Also, the SEC made a statement saying that some cryptocurrencies may be considered securities and exchanges that don't abide by their rules and regulations could be shut down. This sent the markets plunging with Bitoin now sitting at $9,300 down from last weeks high of $11,628.