Bitcoin prices extend losses after US Fed chief urges Facebook to halt Libra project
Updated : July 12, 2019 06:49 AM IST
The original cryptocurrency initially fell 7.7 percent to $11,164 in early morning trade, following a 3.8 percent slide on Wednesday after Powell's testimony on monetary policy before the US House of Representatives Financial Services Committee. It was last down 4.5 percent.
The proposed cryptocurrency has drawn close scrutiny from policymakers and financial regulators globally. Powell said existing rules do not fit cryptocurrencies.
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