The collapse of Bitcoin prices: In early July 2023, the sharp decline in Bitcoin prices in just a few days attracted the attention of global media and investors. This large fluctuation is believed to be the result of multiple factors such as market speculation, regulatory policy adjustments, and the behavior of large investors.
US Cryptocurrency Regulations: In July 2023, the US government announced an important cryptocurrency regulation. The regulation requires all cryptocurrency trading platforms to comply with stricter regulatory requirements before providing services, including real-name registration, anti-money laundering measures and customer fund protection. The implementation of this regulation caused uneasiness in the market and had a profound impact on the operations of U.S. cryptocurrency trading platforms.
