Bitcoin was recently up more than 4% at around $40,000, after earlier jumping more than 10%. Thursday’s gains brought the currency’s price to approximately where it traded in early February. Smaller rival ether was up around 14% after Wednesday’s 28% tumble.
LONDON/TOKYO/NEW YORK: A rebound in bitcoin held strong on Thursday, even as the U.S. Treasury Department called for new rules that would require large cryptocurrency transfers to be reported to the Internal Revenue Service and the Federal Reserve flagged the risks cryptocurrencies posed to financial stability.
The comments from U.S. officials come one day after a brutal sell-off on concerns over tighter regulation in China and unease over the extent of leveraged positions among investors sank the world's biggest cryptocurrency to its lowest level since late January.
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