Prices for bitcoin and other cryptocurrencies went up at the end of the week. Ethereum, the second major coin, hiked by more than 12%. In South Korea, some officials proposed a ruling that may help to settle uncertainties with regulation in the global crypto market.
On the Bitfinex, bitcoin was priced at $9,745.5, followed by Ethereum reaching $795.4 on this platform.
Ripple on the Poloniex changed hands at some $0.91000 (some 4% up). Litecoin rose to $162.6.
According to the news reports, officials from the Democratic Party of South Korea tabled a bill to regulate the creation of new cryptocurrencies and ICO in the country. With the proposal, new startups may become able to attract capital via token sales instead of foreign ICOs.
“The bill is aimed at legalizing ICOs under the government’s supervision,” said an official. “The primary goal (of the legislation) is helping remove uncertainties facing blockchain-related businesses. Under the bill, ICOs would be under tight supervision by the Financial Services Commission (FSC) and the Ministry of Science and ICT,” he added.