Bitcoin cash, Litecoin fell more than 7%, Ether fell 4.12%, Swiss coins fell 4.68%. Digital currency market value continued to shrink, to 23,693,930,000 US dollars.
The financial website Finder.com has previously released data showing that in the week ending June 25, more than 80% of the 1586 digital currencies tracked by the site experienced price declines, with an average drop of 19%. This week is obviously still continuing.
At a U.S. congressional hearing on Tuesday (June 26), the digital currency successfully caught the attention of the regulators.
According to a report on the CCN website, cybersecurity expert Scott Dueweke stated on the same day that he had testified before Congress that the danger of using virtual currency to influence the US election process has intensified. In his view, countries hostile to the United States are using virtual currencies as bypassing Western financial systems. One way, and to avoid the anti-money laundering system and 'know each user' regulatory requirements.
Dueweke believes that Russia is a particularly huge threat in this regard.
Considering that most of the global crimes of hackers and cybercriminals are Russians or Russian-speaking (according to estimates, 25% of the content on darknets is written in Russian), and Russia’s current tense relationship with Europe and the United States, I think that this A direction of development should be closely watched.
The previous week, Robert Novy, deputy director of the US Secret Service Investigation Office, had also called for legislators to enact relevant laws to restrict people from using anonymous cryptocurrencies.
In addition, South Korea, which is keen on digital currency, has also been subject to certain regulatory blows.
This week, South Korea’s Financial Services Commission (FSC), Korea’s top financial regulator, issued a revised version of the anti-money laundering guidelines for virtual currencies after conducting field inspections with three domestic banks such as Nonghyup.
The new guidelines state that virtual currency exchanges must conduct customer due diligence (CDD) and enhance user identification (EDD) to ensure the legitimacy of the purpose and source of the transaction. If the refusal or the inability to provide information verifying the identity of the customer, any of the exchange All transactions will be terminated.
In addition, the virtual currency exchange must also be responsible for ensuring that foreigners do not use local exchanges, that criminals do not use other people's accounts to launder money, and there are no suspicious transactions and payment processes.