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Crypto Rises; Japan Passes Crypto Regulations

© Reuters.
© Reuters.

Investing.com – The crypto market traded in the green on Wednesday morning in Asia, with Bitcoin continuing to hover below the $8,000 level.

traded 0.32% higher at $7,914.9 by 11:17 PM ET (02:26 AM GMT).

Other major digital currencies were also higher, with up 2% to $256.19, rising 2% to $0.40249 and adding 0.4% to $91.1.

On Tuesday, Japan’s parliament passed amendments to two existing financial laws aimed at strengthening regulations on cryptocurrency trading, including margin trading. The new law also includes a change of crypto-related terminology, altering the term virtual currencies to “crypto assets.”

Meanwhile, the central bank of Laos has warned against the use, purchase or sale of digital currencies, according to local news agency Vientiane Times. Crypto transactions remain illegal in the Southeast Asian country.

Laotian regulators are concerned that anonymity of the sender and receiver in a cryptocurrency transaction increases the risk of money laundering. The warning was issued after digital tokens such as Bitcoin, Ethereum and Litecoin were advertised for sale on social media.

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Source: investing.com
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