Sat August 18, 2018
Advertisement
Can't connect right now! retry

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

add The News to homescreen

tap to bring up your browser menu and select 'Add to homescreen' to pin the The News web app

Got it!

Business

REUTERS
February 1, 2018

Bitcoin is an asset, not a currency: Israel’s central bank

JERUSALEM: Israel´s central bank said on Monday it would not recognise virtual currencies such as...

Advertisement

Bitcoin skids to lowest since November after worst month in three years

LONDON: Bitcoin, the world’s largest cryptocurrency, skidded 9 percent on Thursday to its lowest level since late November, as a Facebook ban on cryptocurrency adverts and a growing regulatory backlash against the nascent market rattled investors.

On the Luxembourg-based Bitstamp exchange bitcoin fell to as low as $9,165, marking a more than 50 percent fall from a peak of almost $20,000 hit in December. It slid more than 26 percent last month, in its worst monthly performance since January 2015.

Facebook said in a post on its website this week that it was banning all adverts that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings and cryptocurrency”.

A $530 million hack of Japanese cryptocurrency exchange Coincheck late last week has also weighed on the market, along with a subpoena sent by U.S. regulators to two of the world’s biggest cryptocurrency players, Bitfinex and Tether.

Advertisement

Comments

Advertisement
Advertisement