Investing.com – Crypto prices gained on Friday with Ethererum surging more than 12%, while reports that some South Korea Politicians proposed a new bill to remove the current regulatory uncertainty in the crypto sector garnered some attention.
Bitcoin was trading at $9,619.4 by 12:30AM ET (04:30GMT) on the Bitfinex exchange, up 3.6% over the previous 24 hours.
Ethereum, the world’s second largest cryptocurrency by market cap, surged 12.1% at $775.2 on the Bitfinex exchange.
XRP/USD’s XRP token climbed 3.4% higher to $0.86573 on the Poloniex exchange.
Meanwhile, Litecoin added 4.9% to $158.15.
Hong Eui-rak of the ruling Democratic Party of Korea, along with ten other lawmakers, proposed a new bill that aimed to legalize the launch of new virtual coins and ICOs in the country, reports suggested.
The proposed bill would allow startup companies to raise capital with token sales within the country, instead of having to move abroad.
“The bill is aimed at legalizing ICOs under the government’s supervision,” said Eui-rak. “The primary goal (of the legislation) is helping remove uncertainties facing blockchain-related businesses. Under the bill, ICOs would be under tight supervision by the Financial Services Commission (FSC) and the Ministry of Science and ICT.”
“Blockchain and cryptos can be used in various public sectors for good causes,” he added. “Given their potential, we need to work to help reduce political uncertainties they face.”
Elsewhere, reports on Thursday said Goldman Sachs has officially announced it would open a crypto trading desk. Executive Rana Yared said “I would not describe myself as a true believer who wakes up thinking bitcoin will take over the world.” The news followed Goldman CEO Lloyd Blankfein’s comment in November that “maybe bitcoin is a kind of bubble.”