Bitcoin Fell Back Below $9,000

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Bitcoin has plunged below the $9,000 mark as the world’s biggest cryptocurrency extended losses that are posted earlier in the week after sitting under the $10,000 mark.

According to CoinDesk, an industry website, bitcoin was sitting at $8,658.07 this morning.

Earlier this week, some regulators place the digital assets back in focus, with the Securities and Exchange Commission (SEC) of the United States of America saying that it would demand digital asset exchanges to register with the agency. The said announcement sent the price of bitcoin dropping below the $10,000 mark.

Read more: SEC Releases Warning for Potential Investors of Cryptocurrency

The SEC stated: “If a platform offers trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.”

The SEC added that it had some “concerns” that online trading platforms appear to investors as if they are registered with the SEC and are regulated marketplaces when they are actually not.

Meanwhile, according to Reuters, Financial Services Agency of Japan issued punishment notices to various exchanges in the country on Thursday.

Seven cryptocurrency exchanges were placed in the spotlight, with two ordered to cease their business, after scrutiny intensified following a theft of digital money amounting to $350m from the Coincheck of Tokyo earlier in the year.

Meanwhile, fintech leaders have identified ethereum as their cryptocurrency of choice, betting on its market cap to surpass that of bitcoin’s in 2018.