Bitcoin and crypto markets crash on US crackdown reports

On Sunday, bitcoin shed nearly $8,000 and is currently trading at $55,042 down from a day high of $62,000. Photo: Getty

Bitcoin (BTC-USD) is experiencing a massive sell-off, shedding almost 15% in the last 24 hours — the biggest intraday drop since February. 

The drop appears to coincide with reports that the US Treasury is planning to tackle financial institutions for money laundering carried out through digital assets.

Data website CoinMarketCap cited a blackout in China’s Xinjiang…


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