The latest tumble leaves bitcoin more than 40% down from the record highs of around $20,000 reached in mid-December. Photo: ReutersHong Kong/Madrid: January’s cryptocurrency selloff got fresh impetus on Tuesday when bitcoin slumped, plunging as much as 20% as the prospect of regulatory crackdowns appeared to spread. The largest digital coin fell 14% to $11,940 as of 11:40am in London, the lowest level since late December, according to composite pricing on Bloomberg. In South Korea, shutting down cryptocurrency exchanges is still an option, finance minister Kim Dong-yeon said in an interview with TBS radio. But measures first need “serious” discussion among ministries, Kim added, holding out hope for traders that a crackdown won’t go that far.

Source: Mint January 16, 2018 04:07 UTC