Crypto Currency, Bitcoin Sinks Under $ 10,000

Cryptocurrency continued its downward decline yesterday and traded in the red zone on Friday, with Bitcoin falling below the $ 10,000 mark after a rally near $ 12,000 last week.

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Bitcoin was trading at $ 9,757.1 at 1:15 pm on the Bitfinex exchange, falling 9.65% over the previous 24 hours.

Ethereum, the crypto currency with the second largest market share in the world, slumped 4.34% to $ 824.62 on the Bitfinex exchange.

XRP Ripple coins fell 9.32% to $ 0.89708 on the Poloniex exchange.

Meanwhile, Litecoin also fell 12.78% to $ 190.21.

Governments in Europe repeatedly set up a set of crypto-regulatory measures this week. The German Federal Financial Supervisory Authority (BaFin) is planning a "case-by-case" case of ICO coins, while French financier Autorite des Marches, the country's main monetary monitor, has announced all crypto money transfers settled in cash subject to the same strict French state such as derivative laws and advertising bans.

It was reported yesterday that the British Treasury Committee launched a crypto probe to investigate whether the technology behind Bitcoin poses a risk to central banking.

Elsewhere, The Korea Accounting Institute said yesterday it is considering classifying crypto money from liquid assets or non-current assets in its financial statements.