Bitcoin Rises as South Korea Talks ‘Active’ Support for Trading
- Largest cryptocurrency extends rally after passing $11,000
- S. Korea wants to see ‘normal’ trading in digital tokens
Preparing a Bitcoin Inheritance
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Bitcoin’s stunning rebound continued on Tuesday, with the world’s largest digital token extending February’s gains after South Korean regulators signaled they will actively support what they called “normal” cryptocurrency trading.
In a further shift from earlier rhetoric -- which hinted at an outright ban of cryptocurrency exchanges -- Choe Heungsik, governor of South Korea’s Financial Supervisory Service, told reporters he wants to see normalized trading of digital assets, and said the FSS is making efforts to do that. Bitcoin rose 3.8 percent to $11,502 at 7:15 a.m. in New York, heading for a one-month high, according to prices compiled by Bloomberg.