Investing.com – Cryptocurrency prices traded higher on Monday morning in Asia. Reports that Gibraltar aims to set up one of the first licensed and regulated digital coin exchanges operated by an EU regulated stock exchange garnered some attention over the weekend.
Bitcoin was trading at $7,706.1 by 12:08AM ET (04:08 GMT) on the Bitfinex exchange, up 0.69% over the previous 24 hours.
Ethereum, the world’s second largest cryptocurrency by market cap, gained 3.96% at $617.78 on the Bitfinex exchange.
Ripple’s XRP token added 7.15% to $0.6918 on the Poloniex exchange.
Meanwhile, Litecoin was trading 1.87% higher to $125.1.
On Saturday, the Gibraltar Stock Exchange was reported to be launching a cryptocurrency Exchange called Gibraltar Blockchain Exchange (GBE).
The GBE is on its way to become the first licensed and regulated crypto exchange. It will serve institutional crypto investors.
The GBE is made possible because of the decision by the Gibraltar Parliament last December. The legislature voted unanimously to pass a bill to amend the Financial Services Act in order to regulate the crypto sector.
Elsewhere, Russian railway company RZD is planning to implement blockchain applications, smart contracts and ticket sales in cryptocurrencies, a move that will boost the Russian crypto sector.
It is predicted that transactions can be processed through cryptocurrency, as an alternative to traditional payment methods, like cash and electronic transfers in the future.
The Russian government is poised to regulate digital coins. The State Duma, the lower house of Russia’s parliament, has supported on first reading three draft laws aimed at legalizing the crypto industry in the country, which hit the house floor last week and should be adopted by the end of June.
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