Investing.com - Cryptocurrencies plunged on Friday, with Bitcoin headed towards a 15-month low.
Bitcoin fell 6.74% to $4,040.90 on the Investing.com Index, as of 9:18 AM ET (14:18 GMT).
The sector has been thrashed in recent weeks, with Bitcoin falling to a low of $3,688 on Sunday. The currency is trading at 30% less than its value in mid-November, when the coin dropped from above $6,500.
Increased regulatory scrutiny and the delay of Bitcoin futures launch by the Bakkt have helped fuel the selloff.
Cryptocurrencies overall were lower, with the total coin market capitalization at $130 billion at the time of writing, compared to $137 billion on Thursday.
Ethereum, or Ether, decreased 4% to $113.84 and Litecoin was at $31.43, down 6.29%, while XRP slumped 4.13% to $0.36352.
Meanwhile, the U.S. Securities and Exchange Commission charged Floyd Mayweather and DJ Khaled for promoting an initial coin offering (ICO) without disclosing promotion payments.
The two are the first to be charged with violations in regards to ICOs and must pay penalty fines, plus interest.
Mayweather was paid $100,000 to promote an ICO from Centra Tech, while Khaled was paid $50,000. Neither party told investors that they were being paid to promote the product.
Mayweather was also paid $200,000 to promote two other ICOs.
According to the SEC, digital coins that are sold as ICOs could be considered securities and would fall under federal securities laws. The SEC allege that the Centra ICO was fraudulent and have filed a suit against the founders.