The combined market capitalization of cryptos has fallen to $969 billion, according to data from Coinmarketcap, a drop of about 200% from the market’s all-time high market capitalization of about $3 trillion, seen last November.
Still, some Chinese investors who already have crypto holdings plan to carry on despite the legal risks and regulatory hostility
The fine imposed on Turkish unit of Binance was the first of its kind after the authority took on responsibilities to oversee crypto asset service providers in May
Regulatory bodies exist not only to protect consumers but also the country’s reputation by ensuring nefarious activities are not permitted within its borders.
