Bitcoin Up Sharply as Fears of Coordinated G20 Regulatory Crackdown Fade By

© Reuters. – Bitcoin continued to rebound Tuesday amid broad buying across the crypo-industry as fears the G20 meeting would be used to broach the idea of a coordinated regulatory crackdown on cryptocurrencies faded.

Finance ministers and central bankers from the world’s 20 largest economies called on regulators to “continue their monitoring of crypto-assets” but stopped short of any specific action to regulate cryptocurrencies, Reuters reported.

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That comes a few days after Bank of England governor Mark Carney said “crypto-assets do not pose risks to global financial stability at this time,” easing weeks of investor fears that the G20 meeting would serve as the breeding ground for plans to crackdown on cryptocurrencies.

rose 0.63% at $8,947, up 6.45%, rose 6.11% to $0.70668 on the poloniex exchange, while rose 3.59% to $561.90.

The total cryptocurrency market cap at $350 billion – at the time of writing – rose nearly 10% from $350 million Monday.

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