Bitcoin's value took a big hit today when Japan told six of the trading venues in the country to improve their business operations to help cut down on money laundering and other criminal activity. As a result some of the exchanges have quit taking new customers and are working to provide plans to the government by the 23 July deadline. This is much needed regulation in my opinion. Is regulation going to be bring on the demise of cryptocurrency or allow it to be a stable investment/currency instrument? Some of the targets of Japan’s regulator were quick to react. Bitflyer Inc. said it would stop accepting new customers and also review identity verification for some existing users after it received an order from Japan’s Financial Services Agency. The FSA called for improved measures at all the exchanges against money laundering. The companies must submit their plans by July 23.