Crypto markets are reacting negatively to increasing regulatory pressure from key players. The price of bitcoin reversed some gains that it had generated early in the week; BTC price plunged below $8,500 level today after Japan has issued a warning to Binance – which is the largest cryptocurrency exchange based on trading volume of over $1.6 billion.
Reports suggest that Japan’s Financial Services Agency has shown concerns over the Binance strategy of expanding its operations in Japan without a license in the country. Japan has previously suspended operations of several crypto exchanges on security concerns.
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