In the last days occurred several events that negatively affected the exchange rate of bitcoin. Given their cumulative effect, the market decline of 23% does not look very impressive since in the past even a single event of this kind was caused by the impact of the cryptocurrency market by tens of percent.
SEC requires registration of exchanges tokens
The regulator of the us stock market, the securities Commission and exchange Commission (SEC) announced that cryptocurrency exchanges, trading tokens are required to register with the SEC according to the General procedure, as a national stock exchange, alternative trading system (ATS) or brokers. The grounds for registration should be listed on the stock exchange any digital token passing test Howie, that is, fall under the definition of securities.
Traders can check if the site is to registered in the United States, with a list of the national stock exchanges, alternative trading systems or system validation brokers in the FINRA website.
The regulator believes that many exchanges cryptocurrency claim SEC registration, but not actually passed it. On the other hand, some of the major cryptocurrency exchanges, such as Bitfinex, some time ago, already refused to serve US citizens, to avoid such accusations.
However, despite the brief panic caused by this statement, it is unlikely that will have long-term consequences. Already registered with the SEC exchange Coinbase and Gemini do not sell tokens, but I can open a trade when there is significant market demand. Working in the United States but not yet registered with the SEC Poloniex (recently acquired by Circle) and Bittrex will be able to register, as already taking all the measures to comply with the requirements of us regulators. But a significant part of the exchanges just fine without us traders, and SEC policy will not affect their work, since there are much more favorable jurisdictions, including Japan.
Selling BTC and BCH with MtGox
Another blow to the cryptocurrency market came from an unexpected quarter. The interim Manager the assets of the bankrupt in 2014, the stock exchange of MtGox, a Tokyo lawyer, Nobuaki Kobayashi (Nobuaki Kobayashi), yesterday reported that for the past six months selling cryptocurrency, located in his office. Cobabe sold 35 000 BTC and the same BCH, for a total of 400 million dollars. According to experts, these transactions largely contributed to the losses of cryptocurrency market in the beginning of 2018, when for the month the total capitalization dropped by almost three times.
According to Kobayashi, it was necessary for damages to creditors who have suffered as a result of the termination of work MtGox. Kobayashi noted that all actions were agreed with a Tokyo court. However, until now this information has not received wide distribution.
«I tried to sell BTC and BCH at the highest price, given the then market conditions,» said Nobuaki Kobayashi.
Analysts from the publication Trustnodes compared the days when Kobayashi was selling bitcoins, with the movements of the exchange rate. 18 Dec Kobayashi sold 2000 BTC, then the course of биткоинf dropped from $19 000 to $18 000. Subsequently, there were several such transactions that also coincided with the fall of bitcoin prices. Since February 5, has sold another 6,000 BTC, and then on 6 February, the price reached a record low of $ 6 000.
On this basis, it becomes understandable why the rate of the air in the same days was relatively stable, although this was heavily dependent on BTC. According to experts, the amount of 400 million dollars was enough to exert such pressure on the market.
Currently under the baton of Kobayashi remains of the order of 166 344 bitcoins, which at current price is around 1.7 billion dollars.
«After I consult with the Tokyo court will determine the procedure for the further sale of BTC and BCH, to eventually meet the 25,000 claims from creditors,» said Kobayashi.
There is every reason to assume that the current fall in the price of bitcoin is including the market reaction to the disclosure of this information, since it is obvious that Kobayashi will continue the sale, and in his hands is still a large sum in bitcoin.
Attempted break-in Binance
Simultaneously with the above-described two factors, the cryptocurrency market have affected first unconfirmed information about the hacking of the exchange Binance, which is in the TOP 5 by trading volume. A few hours ago exchange made a statement in which it confirmed the existence of problems, but reassured users that the withdrawal of money by the attackers was blocked and the stock exchange has not suffered any losses.
According to a statement from the technical support of the exchange, on the evening of 7 March was a sharp increase in trading activity on pair VIA/BTC, which lasted two minutes and associated with attempted burglary and phishing. The risk management system has blocked the trade and the withdrawals, and as a result an internal investigation had discovered a phishing attempt and steal tokens.
As reported by the exchange, the hackers a long time to collect user data and conduct a phishing campaign from the beginning of January, the peak of which fell on February 22. Yesterday ispolzovaniem the received API keys, they began to mass purchase a pair VIA/BTC, selling at the same time VIA pre-funded accounts. Just was hacked 31 account. Selling the planned quantity of the VIA, the attackers tried to withdraw bitcoins, but the transaction was already blocked.
Currently, work is underway to identify and rollback operations hackers , then users will get their money back. Hacking attempt will not lead to losses and will not affect the operation of the exchange. In fact, the temporary effect of this information on the market is over, and bitcoin is currently back to $10 000.