Crypto News: Bitcoin briefly plunges nearly 9% on fears of greater oversight from US regulators

Bitcoin plunges nearly 9% on fears of greater oversight from US regulators.

At one point in the day, the digital currency declined by nearly $500, or about 8.7 percent to a low of $5,109.70, before regaining some of the lost ground, according to CoinDesk. The day's low marked the digital currency's lowest level since Thursday, the website's data showed.

Bitcoin recovered in afternoon trading from its worst levels to trade 3 percent lower near $5,410, still up more than 5 times in price for the year, according to CoinDesk.

The U.S. Commodity Futures Trading Commission on Tuesday released a report titled "A CFTC Primer on Virtual Currencies." The report said as a commodity, virtual currencies like bitcoin fall under the oversight of the commission when they are used "in a derivatives contract, or if there is fraud or manipulation involving a virtual currency traded in interstate commerce."

Full story at http://cnb.cx/2xR86zW

Source: CNBC

 

 

 

Donation:
If you appreciate the things I share, consider making a contribution
no matter how small via PayPal or with TransferWise (EUR).
If you use Waves my wallet address is: 3PPeCnXEDAiRVzvsuGRycrNDHhWgDq68uVt
If you use Bitcoin my wallet address is: 12pAsyMdZoTHPvkiRAZiuQhC8bF4DLbYpQ

Bitcoin QR-Code