Indian and Japanese regulators have issued regulatory actions on cryptocurrencies one after another , and cryptocurrencies such as Bitcoin have plummeted in the short-term.
On Thursday, the Central Bank of India issued a statement prohibiting banks and other institutions from providing cryptocurrency trading services.
If such services have already been provided, they must be terminated within a certain period of time.
On Friday afternoon, bitcoin and ether fell rapidly. Bitcoin hit a minimum of $6,526, and fell over $200 an hour. On the Indian trading platforms, the price of Bitcoin fell to 355 thousand rupees (about 5400 US dollars), and Ether fell to 19,500 rupees (about 298 US dollars).
On Friday, the Japan Financial Services Agency imposed penalties on the three cryptocurrency exchanges of Lastroots Corporation, Eternal Link, and FSHO Corporation and required Eternal Link and FSHO Corporation to suspend operations and required all three exchanges to change their operations.
Indian newspaper "Economic Times" Since then commented that Indian nationals will no longer purchased cryptocurrency from banks . The central bank supervision of banks and the individual will not be able to do transaction to their bank accounts via cryptocurrency wallet.
Also on Thursday, Thomas Lee, former chief equity strategist at JP Morgan Chase and fundraiser Global Advisor, pointed out in his report that the deadline for US tax filing on April 15 this year was recently the result of cryptocurrency fell.
Lee believes that American families last year invested in cryptocurrency raise the profit of $92 billion, so $25 billion required to pay capital gains tax, so they sell some hold out profits.
According to Wall Street, in the first quarter of this year, bitcoin and cryptocurrency as a whole have hit the worst performance in history. Bitcoin's market value in the current quarter evaporated more than US$120 billion. The Bank of Japan recently also warned investors.
Last week, the Bank of Japan issued a "Risk Notice" to the public, pointing out that the lack of cryptocurrency is not a traditional currency. It itself involves risks such as theft and speculation, and warns the public not to blindly trust on the "high-tech image".