Sudden decline in the crypto market due to US restrictions

Sudden decline in the crypto market due to US restrictions
Sudden decline in the crypto market due to US restrictions
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Cryptocurrency prices declined today, due to the imposition of new restrictions on the cryptocurrency market by the United States of America.

The price of the “Bitcoin” currency recorded a decrease of 1.76%, to reach $ 22,672.2 thousand, and the “Ethereum” currency decreased by $ 5.47%, recording $ 1,547.01, and the “Cardano” currency decreased by 6.55%, to record $ 0.3537.

The “Solana” currency fell by 42.7%, to record $ 23.010, and the “Dogecoin” currency recorded a decline of about 6.12%, to reach the levels of $ 0.084320, and “Sheba” fell by 6.86% to the levels of $ 0.01126, and the smart contracts AV AX lost. within the range of 8.29%, to levels near $17.03.

The Terra currency fell by 99.4% to $0.001706 levels, the FTX Token fell by 69.9% to $1.9394 levels, and the Ripple currency fell by 4.01% to $0.40478 levels.

Earlier, the New York State Department of Financial Services imposed rules that would require companies to separate their customers’ digital currency assets from their own assets.

The Ministry of Financial Services issued new rules that require state-regulated firms to disclose in detail how they calculate the value of their clients’ digital assets and currencies.

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The rules state that cryptocurrency exchanges will be subject to audits to determine whether or not they comply with US regulations on “know your customer” policies, anti-money laundering safeguards and capital requirements.

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During the announcement, New York State Department of Financial Services Superintendent Adrian Harris stated that it was time to start paying more attention to cryptocurrency companies, especially since this was part of the department’s future policy roadmap, even before the collapse of FTX.

It is noteworthy that Harris was a former senior advisor to the US Treasury, and took over the position of Superintendent General of the New York State Department of Services last year.

Harris spent most of her first year in this position nurturing the regulator’s interest in the cryptocurrency market, with approximately 50 employees working in the cryptocurrency arm so far.

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