After Seoul announced easing of the ban on crypto trading in the country, the price for bitcoin and other digital coins increased on Wednesday.
On the Bitfinex the major virtual coin changed hands at $8,773.00 (2.53% up d-o-d). Ethereum rose in price to $860.77 (2.11% up) on the same platform. The top-3 Ripple coin was at $1.02102 on the Poloniex.
According to the Seoul message, Korean officials will take measures to make crypto trading transparent without banning it.
Besides, the government will not abandon checking reaction on the cryptocurrencies, though Seoul will not center around exchange ban, though it remains quite possible.
It is worth mentioning that this is the first complete response of the government on the proposal to ban crypto trading made by the Ministry of Justice at the end of last year. Traders were glad to hear the statement about Seoul's more flexible position on this issue, which is considered to be a support for the digital coin price.
At the same time, The Commonwealth Bank reportedly banned bitcoin buying via credit cards, following similar measures taken by other major banks worldwide.