- Hitbtc denies access to its services for Japanese residents.
- All coins are sliding down, Bitcoin is close to critical support.
Cryptocurrency market switched back in red mode after a period of recovery during the previous week. Bitcoin is losing 2% since the start of the day, Ethereum and Ripple are down 2.5% and 4.5% respectively. IOTA and Bitcoin Gold are among the biggest losers of cryptocurrency Top-10.
Hitbtc, the Hong Kong exchange for trading digital assets with average daily volume over $278M has stopped servicing clients in Japan to avoid troubles with Japanese Financial Services Agency. The operator updated its Legal section of the website to include the information about service restrictions.
"For the avoidance of any doubt and in accordance with the Japan Payment Services Act, HitBTC has temporarily suspended providing virtual (crypto) currency exchange services to residents of Japan. In case our technology detects that you use our Services from an IP address registered in Japan, or any other services registered in Japan, you would be asked to confirm that you are not a resident of Japan by providing information on your residency within KYC procedure."
BTC/USD dropped to intraday low at $7,531 before recovering to $7,600 handle. The digital currency No.1 has returned above the upside trendline at $7,570 and above 200-SMA (30-min chart), though the coin is vulnerable to a new sell-off wave as long as it stays below $7,660 (100-SMA) and %7,700, strengthened by 50-SMA.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.