Investing.com -- Bitcoin traded below $76,000 on Sunday as fresh regulatory and security concerns weighed on the cryptocurrency industry, with Binance preparing to close certain European customer accounts and authorities intensifying scrutiny of digital asset transactions.
The world's largest cryptocurrency was down 0.34% to $75,776.7 at 01:06 ET (06:06 GMT), virtually unchanged on the day, after a difficult week for digital assets. Bitcoin remained below the $80,000 mark as investors assessed regulatory developments and risks surrounding major cryptocurrency platforms.
Binance confirmed plans to close affected European accounts by December 31 following the expiration of the European Union's Markets in Crypto-Assets transition period.
Customers in France, Spain, Italy and Poland have reported receiving withdrawal notices. Deposits have been blocked for affected accounts, although withdrawals remain available.
From November 29, Binance plans to charge remaining balances a monthly fee of 0.025%, or 10 USDC, whichever is higher. Another charge is scheduled after December 24.
The restrictions follow Binance's failure so far to obtain authorization under the EU's unified licensing frame...