Bitcoin up 2.4% · Dogecoin down 7.15%... US "Strengthening Cryptocurrency Crime Response"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kim Suhwan] Prices of various cryptocurrencies, including Bitcoin, have shown a slight increase. However, Dogecoin fell by more than 7%.

According to CoinDesk as of 6:45 AM KST on the 4th, Bitcoin recorded $38,759, up 2.40% compared to 24 hours earlier. After falling from $40,000 on the 27th of last month, it has rebounded and is currently maintaining the $39,000 range.

Ethereum is trading at $2,815, up 3.07% from 24 hours ago.

Dogecoin is recording $0.3975, down 7.15%.

Other major altcoins (cryptocurrencies other than Bitcoin) such as Ripple (XRP) rose 0.29% to $1.04, Litecoin increased 1.09% to $189, and Monero rose 5.26% to $306.

The stock price of Coinbase, the largest cryptocurrency exchange in the U.S., closed at $233.66 on the Nasdaq, down 2.84% from the previous trading day.

Earlier, news that Dogecoin would be listed on Coinbase and a tweet by Elon Musk, CEO of Tesla, featuring a Dogecoin image caused a surge of about 36% on the 2nd, but the price soon fell again, dropping about 7% on this day.

Meanwhile, the U.S. administration under Joe Biden has declared a tougher stance on ransomware and internet-related crimes such as cryptocurrency amid ongoing ransomware attacks on domestic companies.

On this day, the White House issued an executive memorandum titled "Combating Corruption Crimes Threatening U.S. National Security," stating that "anti-corruption laws must be modernized to respond to cybercrimes including cryptocurrencies."

A White House official emphasized in an interview with CNBC, "We view cryptocurrencies as a means for illicit financial crimes," adding, "However, we do not intend to restrict the innovative technologies surrounding cryptocurrencies."

The official also mentioned that as part of the response to cryptocurrency-related crimes, efforts are expected to be made to strengthen the role of judicial authorities in tracking the flow of funds.