Bitcoin Falls; Japan does not say to Investing.com's Crypto ETFs

Investing.com – Cryptocurrency prices plummeted on Monday, as the Japanese watchdog said they did not intend to approve encrypted funds.

The news is the latest knock-back for cryptographic assets by global regulators, who have been reluctant to make it easier for investors to access them because of concerns that it is too easy to manipulate cryptocurrencies.

fell 2.3% to $ 3.518.90 on the Investing.com Index, at 8:36 AM (1:36 pm GMT).

The cryptocurrencies were overall lower, with a total market capitalization of currencies of $ 118 billion at the time of writing, compared to $ 122 billion on Sunday.

, or Ether, fell 6.1% to $ 116.31 and stood at $ 30.18 down 5.6%, while it slipped 3.6% to $ 0.31728.

The Japanese financial services agency said today that it is not evaluating ETF approval. Last week, a Bloomberg report quoted a person familiar with the FSA saying that the regulator could approve such announcements.

"There is no fact that we are considering approving ETFs that currently track crypto-activity … we are currently not considering approving them," an FSA spokesperson told the news on Bitcoin.com. The agency also said it did not intend to authorize the listing of Bitcoin futures on the financial markets of Japan.

The Commission for Financial Instruments and Exchanges U.S. has repeatedly rejected cryptic ETF applications in the last year, but this has not yet killed speculation that could change its mind in the future. The SEC is still reviewing a number of applications by companies.

In other news, the Danish tax agency is now able to negotiate digital currency from stock exchanges, including names, addresses and personal tax numbers. The move is to ensure that citizens have paid taxes, wrote the regulator on its website, according to Bloomberg.

"Without going too far, I think we can say that this is a big market that we have to look more closely," said Karin Bergen, director of the agency, in a statement.