Although the prices of cryptocurrencies such as Bitcoin continue to soar, global regulations have not relaxed the encryption market at all, but show signs of gradually tightening.

In the European and American markets, on the evening of March 26, the cryptocurrency exchange KuCoin and its founders Chun Gan and Ke Tang were prosecuted by the U.S. District Attorney’s Office for the Southern District of New York for violating U.S. anti-money laundering laws and operating an unlicensed currency remittance business. In its complaint against Kucoin exchange, the U.S. Commodity Futures Trading Commission (CFTC) pointed out that Bitcoin, Ethereum and Litecoin are all commodities.