{"id":219465,"date":"2018-01-16T07:21:37","date_gmt":"2018-01-16T05:21:37","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=219465"},"modified":"2018-01-16T07:21:37","modified_gmt":"2018-01-16T05:21:37","slug":"bitcoin-slumps-amid-scrutiny-from-global-regulators","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/219465\/bitcoin-slumps-amid-scrutiny-from-global-regulators\/","title":{"rendered":"Bitcoin slumps amid scrutiny from global regulators"},"content":{"rendered":"<div class=\"article-content\">\n<p>Bitcoin slumped to the lowest level since December in Asia trading hours as cryptocurrencies continued a January selloff amid rising scrutiny from global regulators.<\/p>\n<p>Bitcoin fell 6.3% to $13,040 at 10:32 a.m. in Hong Kong, the lowest level since Dec. 5 according to composite Bloomberg pricing, bringing an end to a rally over the past two days.<\/p>\n<p>Bitcoin is now down more than 30% from the record high in mid-December. Rival cryptocurrencies are also down, including a drop of as much as 17% in Ripple.<\/p>\n<p>Investors \u201cshould be prepared to lose all their money\u201d in bitcoin, said Steven Maijoor, chairman of the European Securities and Markets Authority, in a Bloomberg TV interview in Hong Kong.<\/p>\n<p>\u201cIt has an extremely volatile value, which undermines its use as a currency. And it\u2019s also not broadly accepted.\u201d<\/p>\n<p>The ESMA warned retail investors against initial coin offerings in November and is monitoring developments in cryptocurrencies, Maijoor said.<\/p>\n<p>China, which first began targeting the industry last year, is escalating its clampdown on cryptocurrency trading, targeting online platforms and mobile apps that offer exchange-like services, according to people familiar with the matter.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/01\/BitcoinG.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-219469\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/01\/BitcoinG.png\" alt=\"\" width=\"1200\" height=\"675\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/01\/BitcoinG.png 1200w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/01\/BitcoinG-300x169.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/01\/BitcoinG-768x432.png 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2018\/01\/BitcoinG-1024x576.png 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/general\/219435\/china-may-soon-clamp-down-even-harder-on-cryptocurrencies\/\" target=\"_blank\" rel=\"noopener\">China may soon clamp down even harder on cryptocurrencies<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin slumped to the lowest level since December in Asia trading hours as cryptocurrencies continued a January selloff amid rising scrutiny from global regulators.<\/p>\n","protected":false},"author":59,"featured_media":219467,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[5537,26],"class_list":["post-219465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bitcoin","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/219465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=219465"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/219465\/revisions"}],"predecessor-version":[{"id":219471,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/219465\/revisions\/219471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/219467"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=219465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=219465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=219465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}