While it has been suggested that a large seller in Japan unloading hundreds of millions of dollars worth of Bitcoin over the last few months may be responsible for the recent market crash, the continued price pressure may be coming directly from government agencies like the U.S. Securities Exchange Commission.

According to CNBC:

The SEC has concerns that many online trading platforms appear to investors as SEC registered and regulated marketplaces, but they’re not.

Many platforms refer to themselves as exchanges, which could give the misimpression to investors that they are regulated or meet the regulated standards of a national securities exchange.

The price of Bitcoin dropped about 10% after the SEC announcement this week.