Cryptocurrencies are falling in price on news of attempts to regulate them

According to the CoinMarketCap portal, as of 8.49 Moscow time, Bitcoin fell in price by 10.05%, to $10.54 thousand. On the Bitfinex exchange, the cryptocurrency decreased in price by 10.08%, to 10.35 thousand dollars, on GDAX - by 10.29%, to 10.4 thousand dollars.

Other cryptocurrencies are also collapsing: Ethereum - by 9.57%, to $962.3, Ripple - by 9.21%, to $1.27, Bitcoin Cash - by 11.56%, to $1.58 thousand, according to CoinMarketCap data. The capitalization of the cryptocurrency market, according to the service, is currently $510.8 billion, with Bitcoin accounting for about 35% of the entire market.

Traders are following global news about possible controls and restrictions for cryptocurrencies. Thus, on Monday, the chief economist of the International Monetary Fund (IMF), Maurice Obstfeld, said that government regulators around the world should closely monitor the situation with the development of cryptocurrencies in order, on the one hand, to benefit from it, and on the other, to prevent risks.

In turn, South Korean media reported that several cryptocurrency exchanges may be forced to pay tax of 24.2% of last year’s revenue, and they will also have to transfer data on transactions, writes The Wall Street Journal. Reuters previously reported that Indonesian authorities had launched an investigation into cases of using Bitcoin as a means of payment on the island of Bali, while the Central Bank issued a decree banning cryptocurrencies in early December.

According to https://ria.ru