Bitcoin crashes as El Salvador rollout falters: Check details here

Volatility in bitcoin eased but trading remained subdued on Wednesday, a day after El Salvador adopted the crypto asset as legal tender but the threat of a US lawsuit against crypto exchange Coinbase Global underscored the rocky road ahead for cryptocurrencies.

The Securities and Exchange Commission issued Coinbase with a Wells notice, indicating the US regulator will sue if the crypto exchange goes ahead with the launch of its interest-bearing “Lend” product for crypto assets. Coinbase said it would delay the launch until at least October. Shares of Coinbase last traded down 3.50 per cent at $257.43.