Hindustan Times (Jalandhar)

BIT­COIN DIPS 18% ON FEARS OF CRACK­DOWN

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LON­DON: Bit­coin tum­bled 18% on Tues­day to a four-week trough close to $11,000, af­ter re­ports that a ban on trad­ing of cryp­tocur­ren­cies in South Korea was still an op­tion drove fears of a reg­u­la­tory crack­down. Bit­coin’s slide trig­gered a mas­sive sell-off across the broader cryp­tocur­rency mar­ket, with big­gest ri­val Ethereum down 23% on the day, ac­cord­ing to trade web­site Coin­mar­ket­cap, and the next-big­gest, Rip­ple, plung­ing 33%. South Ko­rean news web­site Yon­hap re­ported that fi­nance min­is­ter Kim Dong-yeon had told a lo­cal ra­dio sta­tion that the gov­ern­ment would be com­ing up with mea­sures to clamp down on the “ir­ra­tional” cryp­tocur­rency in­vest­ment craze.

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