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Bitcoin was trading 1.12% higher Wednesday morning at about $42,300.
Rivals Ethereum and Dogecoin were trading around $2,913 (+0.27%) and 20 cents (+0.19%) per coin, respectively, according to CoinDesk.
On Wednesday, South Korea banned virtual asset services providers (VASPs) and their staff from trading tokens issued by them, the country’s Financial Services Commission (FSC) said in a statement.
BITCOIN MINERS EYE NUCLEAR POWER AS ENVIRONMENTAL CRITICISM MOUNTS
Crypto services providers have been given a month to set up internal processes for the conflict of interest rules, CoinDesk reported. Failure to comply will lead to suspension of business and up to KRW 100 million ($85,000) in penalties.
The "conflict of interest rule" was passed at a cabinet meeting Tuesday, and was instituted to prevent damage to users as well as increase transparency in the industry, the FSC said.