While the exact reason for the selloff remains uncertain, some analysts speculated that it was due to a hard fork of Bitcoin cash on Thursday.
BCH/USD slumped 44.11% to $250.00.
Cryptocurrencies overall were higher, with the total coin market capitalization at $184 billion at the time of writing, compared to $179 billion on Thursday, but remained below last week’s high of $220 billion.
In other news, chipmaker Nvidia (NASDAQ:NVDA) slumped 18% as the company forecast a drop in fourth-quarter revenue. The company’s gaming cards are popular with cryptocurrency miners, but as popularity in digital currencies wanes, demand for the product has decreased.
The agency argues that wallets are like bank accounts and should fall under their jurisdiction. At the moment, Japanese law does not apply to the wallet service providers because they do not trade in digital currencies.