Crypto Crackdown

A crypto crackdown refers to actions taken by governments or financial institutions to regulate or restrict the use of cryptocurrencies. This can include measures such as banning or limiting the use of certain cryptocurrencies, imposing stricter regulations on exchanges and other businesses dealing in cryptocurrencies, or increasing enforcement of existing laws related to cryptocurrency use. The reasons for a crypto crackdown can vary, but may include concerns about illegal activities, money laundering, or the potential for financial instability.

The reasons for a crackdown on Coinbase could include concerns about the company's compliance with weak internal controls, anti-money laundering (AML) and know-your-customer (KYC) regulations, as well as worries about the potential negative impact of cryptocurrency trading on the traditional financial system.

US justice department announced the arrest of crypto exchange Bitzlato's founder last week and thus we will suggest all those trading in cryptos avoid doing so as the taxation is large and you have little volume as major portion of crypto currency is controlled by big whales and they can manipulate the prices as per their whims and fancies.

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