Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000.
The cryptocurrency market sees $160B evaporating as its market value drops 8.8 percent to $1.65T from $1.81T in less than two days.
The Central African Republic approves the legal framework for economic use of Bitcoin.
A survey by crypto platform Gemini found that 40 percent of global respondents first purchased crypto last year.
The mining of Bitcoin, whose production is capped at 21 million, is expected to end in 2140.
EU lawmakers voted for measures that would expand anti-money laundering requirements and call for crypto firms to reveal the personal information of their customers.
It is now problematic for Moscow to sell natural gas in dollars or euros due to sanctions, says chairman of Russia's State Duma Committee on Energy.
US President Biden is pushing for a coordinated approach to crypto oversight as the United States risks losing ground to China.
Crypto has come under scrutiny since Russia’s invasion of Ukraine for its potential as a conduit for sanctioned Russians seeking a place to park assets.
Millions have poured into NGOs and hacktivist groups to support the Ukrainian resistance since Russia’s offensive began on Thursday.
A crackdown on cryptocurrencies comes as central banks aim to launch their own version of digital cash.
US authorities said they seized $3.6 billion worth of bitcoin linked to the hack of Bitfinex, a virtual currency exchange whose systems were breached nearly six years ago.
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