The bitcoin falls, the vice of regulation is tightening :


The price of bitcoin lost up to 18% Tuesday to fall to its lowest level in nearly a month, the threat of strict management of transactions on the most publicized cryptocurrency is becoming more and more precise.

The fall of bitcoin has spread to other virtual currencies such as Ethereum, which has lost up to 23% according to the specialized site Coinmarketcap, and the Ripple, whose decline has reached 33%.

The South Korean news site Yonhap echoed on Tuesday the words of Kim Dong-yeon, South Korea's finance minister, about the government's willingness to put in place a series of measures to stem the tide. 'irrational craze' for cryptocurrencies.

On Monday, Seoul said its plan to ban outright cryptocurrency trading platforms was not yet complete and discussions were continuing on the subject.

After the information from Yonhap, bitcoin fell to $ 11,191.59 on the Luxembourg-based Bitstamp platform, a drop of 18%. Around 11:00 GMT, it yielded 11.8% to 12,002.01 dollars.

Its fall is now around 45% from the peak of mid-December to nearly 19,700 dollars, cutting the total value of existing bitcoins by about 130 billion dollars (107 billion euros). This had been multiplied by almost 20 over the whole of 2017.

KOREA, CHINA AND GERMANY WANT TO FRAME MARKET

The craze for cryptocurrencies last year, which attracted thousands of individual and sometimes neophyte investors, has led several countries to show in recent weeks their desire to frame this market whose growth is favored by the absence any specific regulations.

In China, a central bank official on Tuesday urged a outright ban on cryptocurrency trading platforms, according to a Reuters document.

Beijing has already banned the issuance of "tokens" or tokens, ICO (initial coin offerings, capital raising in Cypriot coins) and limited the possibilities of "mining", ie creation of bitcoins.

If the American authorities remain for the moment discreet on the subject, voices are raised in Europe to demand also the setting up of a regulatory framework: in December, the European Union intends to put an end to the anonymity of the cryptocurrency transactions in the name of the fight against money laundering and terrorism () and on Monday, a leader of the German Bundesbank pleaded for global coordination of the regulation.

"It seems that uncertainty is shaking the markets (..) for lack of clarity on the regulations," said Tuesday Charles Hayter, founder of the specialized site Cryptocompare, adding that investors "take profits against the prospect of a rise risks".
0