Sunday, December 10

Crypto Crash: Russia Wants to Ban Mining; Confirms Hack By

By Laura Sanchez – The cryptocurrency sector has fallen sharply since last night, wiping out almost $150 billion from the market, according to

it falls 9% in the week and 15% so far this month. , meanwhile, loses 13% weekly and 21% this month.

Added to this is the fact that yesterday the Central Bank of Russia proposed to ban the use and mining of cryptocurrencies. Russia is one of the top bitcoin mining locations in the world.

And, as if that were not enough, the cryptocurrency exchange confirms the hack that it has suffered this week that has affected about 500 users.

However, from assure that their clients’ funds were not compromised because the transactions were mostly blocked; and in the remaining cases, the crypto assets were reimbursed.

As a general trend, more and more experts link the volatility of the crypto sector to the general swings of the stock market.

The bearish sentiment coincides with the falls on Wall Street. He is down 5% this week and he is on his third straight week of losses.

Legal warning: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.