What are the reasons for collective decline for encrypted currencies?

The encrypted currencies fell a collective decline. Petquin fell 11.5% to $ 55045, after reaching its lowest level at $ 51707 today, and Ethium has recorded recordings of nearly 18% before reducing losses to 14%.

According to Arab Net, many reports are due to speculation that the US Treasury Department may take strict measures against money laundering through digital assets, said Bloomberg, and Arabic.

A few days ago, the Petquin currency recorded a record high of $ 64.869.78 last week before starting the first trading of Cheenbas Global Coinbase Global on Wednesday.

The growing incidence of prostitute for encrypted currencies led to high prices of Petquin, as well as the payment of other encrypted currencies to record levels. Where companies such as encrypted currencies have begun after companies such as PayPal, and Square have begun to enable transactions in Petquin on their regulations. Wall Street, such as Morgan Stanley began to provide access to encrypted currencies for some of the richest clients,

On the other hand, the encrypted currency rose by Illon Mask, and the billionaire Mark Coban, known as Dogcoin Dogecoin, more than 110% on Friday before the next day, to register the digital currency by about 388% during the last 7 days.

Government Reviews

Governments examine risks around the sector closely with the breadth of investors base.

For his part, the Federal Reserve, Jerome Powell said last week that Petquin was somewhat like a way for speculation more than being a coin.

While the President of the European Central Bank Christine Lagard targeted in January in the facilitation of criminal activity, saying the encrypted currency allows funny work.

In turn, the Turkish Central Bank has banned the use of encrypted currencies as a form of payment as of April 30, saying the level of concealment of identity behind digital symbols brings non-refundable losses.

While the Reuters reported in March, quoting an unknown government official for a direct familiar with the plan, India would legally propose the coins and impose fines on anyone who is trading or possessed such assets.