Robinhood-Fueled Rally Stalls, Bitcoin in Red

Cryptocurrency prices went south on Monday after Japan’s Financial Services Agency (FSA) announced that it may conduct on-site inspections of domestic cryptocurrency exchanges in response to Coincheck’s $530 million hack. The Bitcoin price led the retreat with a five percent decline, and most other top-tier coins followed suit.

As a rule, Japan has been very welcoming to the nascent cryptocurrency industry, and favorable regulatory policies have enabled the country to become one of the ecosystem’s central hubs.

Reference: https://www.ccn.com/bitcoin-price-slips-into-the-red-as-robinhood-fueled-rally-stalls/

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