Why is the code money, such as Bitcoin, sharply dropped?

The U.S. business magazine Forbes reported that Korean regulators have tightened regulations in all directions and U.S. institutional financial institutions have introduced block-chain based apps.

Korea's crypto-money trading websites are on the verge of survival due to the government's full range of regulations.

Bitsum, the country`s largest cryptography website, announced on May 31 that it would suspend recruitment of new members from August 1 due to the expiration of its contract with Nonghyup. Bissum failed to renew contracts with Shinhan earlier this year, and has now blocked new investors from trading cryptography via Bissum.

The second largest business in the industry has also been suspended from recruiting new members since January due to the refusal of commercial banks.

The related industry blamed the government's negative view on the currency trade on the cause of the bank's failure to pay its account to the credit exchange site for more than half a year.

The Korean government went further to eliminate the benefits of ' venture companies ' enjoyed by cryptomoney trading sites. The Ministry of Strategy and Finance excluded tax reduction, which was provided to companies dealing with cryptography through the revision of the 2018 Tax Law, which was made public yesterday.

In addition, major U.S. financial institutions are releasing applications based on blockchain, which enables them to enjoy the advantages of a block chain without having to directly trade in cipher.

[Source] Password currency, such as Bitcoin, fell dramatically. Why? | Author derivative navigation