South Korea will support cryptos transactions

Prices of Bitcoin continued to rebound from yesterday, once approaching 12,000 U.S. dollars, nearly double from the recent low in early February. Industry website CoinMarketCap data show that as of 7:25 am Beijing time, bitcoin quoted at 11552.80 US dollars, earlier rose to 11927.70 US dollars.

On the Chicago Mercantile Exchange, the price of bitcoin futures for delivery in February rose $ 1705 to close at 17.02% at $ 11,725 ​​with a daily high of $ 11,760 and a low of $ 10,315.

Analysts believe the main reason for pushing Bitcoin back is the loosening of the position of South Korean financial regulators on cryptocurrencies. According to the Yonhap news agency, South Korea's financial regulator Choe Heung-sik said in a meeting with cryptocurrency exchange representatives on Tuesday that the South Korean government will support "normal" cryptocurrency trading.

Since the end of last year, South Korea has gradually stepped up its supervision of cryptocurrencies and announced at the end of January this year that it banned the use of anonymous accounts to trade cryptocurrencies. In addition, South Korean officials said the cryptocurrency exchange may be closed. In South Korea, the huge demand has resulted in cryptocurrencies often above the global average.

According to the price index provided by Coindesk, on the Tuesday morning in New York City, bitcoin prices rose about 3% to close to 11,500 US dollars. According to the data provided by CryptoCompare, the transaction volume of cryptocurrencies by the won accounted for about 5.8%.

This bitcoin price is approaching 12,000 US dollars, the South Korean government will support the normal cryptocurrency trading to automatically point technology.