Bitcoin back below $30,000; European regulators warn about crypto risks

Bank of France Governor Francois Villeroy says crypto assets could disrupt the international financial system.

Cryptocurrencies resumed their slide on Monday, giving up the gains they had eked out over the weekend, as regulators continued to circle. European officials reiterated warnings of risks posed by cryptocurrencies.

Bitcoin fell 5% to around $29,700 on Monday in Asian trade, sliding alongside stocks because of worries about high inflation and rising interest rates. The world's largest cryptocurrency has lost around one fifth of its value so far this month, as the spectacular collapse of TerraUSD, a so-called stablecoin, has roiled crypto markets already falling amid broad selling of risky investments.

TerraUSD, which broke its 1:1 peg to the dollar last