Bitcoin Heads for Worst Monthly Slide Since December 2013

Cryptocurrencies are extending losses with Bitcoin headed for its worst monthly slide since December 2013 on the last day of January trading as U.S. regulators ramp up their scrutiny of one of the world’s largest digital currency exchanges while Facebook Inc. is banning ads tied to the industry.

Bitcoin is down about 31 percent this month, trading at $9,817 as of 10:20 a.m. in Hong Kong, according to composite pricing compiled by Bloomberg. Rival coins Ripple, Ethereum and Litecoin are also down at least 2 percent, the data show.