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Apr 18, 2021

Bitcoin Falls as Much as 15%

Shamim Adam, Bloomberg News

Network cables run alongside a power supply unit for a mining rig at the CryptoUniverse cryptocurrency mining farm in Nadvoitsy, Russia, on Thursday, March 18, 2021. The rise of Bitcoin and other cryptocurrencies has prompted the greatest push yet among central banks to develop their own digital currencies. Photographer: Andrey Rudakov/Bloomberg

Network cables run alongside a power supply unit for a mining rig at the CryptoUniverse cryptocurrency mining farm in Nadvoitsy, Russia, on Thursday, March 18, 2021. The rise of Bitcoin and other cryptocurrencies has prompted the greatest push yet among central banks to develop their own digital currencies. Photographer: Andrey Rudakov/Bloomberg , Bloomberg

(Bloomberg) -- Bitcoin fell as much as 15.1% on Sunday.

Several online reports attributed the plunge to speculation that the U.S. Treasury may crack down on money laundering that’s carried out through digital assets.

The token traded at $55,391.51 as of 1:25 p.m. in Singapore on Sunday, after declining to $51,707.51 earlier.

©2021 Bloomberg L.P.