Bitcoin plunged to a six-week low Tuesday after comments from South Korea's finance minister renewed worries about a crackdown in one of the largest markets for digital currency trading.
The Cboe and CME bitcoin futures contracts expiring later this month both dropped, with the Cboe contract falling 20 percent to around $11,010 and the CME contract off nearly 20 percent around $11,160 as of 4:01 p.m., ET. Trading in the Cboe bitcoin futures contract was briefly halted in accordance with price volatility rules.
South Korean Finance Minister Kim Dong-yeon said in a radio program interview that "the shutdown of virtual currency exchanges is still one of the options" the government has, according to an English-language report Tuesday from South Korea's Yonhap News.
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