Bitcoin higher, Ethereum, Dogecoin trending lower early Saturday

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Bitcoin trading around $48,670, while Ethereum and Dogecoin at $3,520 and 24.4 cents respectively: Report

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Bitcoin was trading up more than 1.5% on Saturday morning.

According to Coindesk, the price was around $48,670 per coin (+1.67%), while rivals Ethereum and Dogecoin were trading at $3,520 (-0.19%) and 24.4 cents (-2.95%) per coin, respectively.

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The Biden administration is preparing a series of actions, including sanctions, to make it harder for hackers to use the digital currency to profit from ransomware attacks, according to people familiar with the matter.

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The government hopes to block access to a form of payment that has supported a thriving criminal industry and a growing national security threat.

The Treasury Department plans to impose restrictions as soon as next week, and will issue new guidance to businesses on the risks associated with facilitating ransomware payments, including fines and other penalties, the people said. Expected later this year, new anti-money-laundering and terror-finance regulations will seek to limit the use of cryptocurrencies as a payment mechanism in ransomware attacks and other illegal activities.

In other cryptocurrency news, shortly after Texas securities regulators ordered crypto lender Celsius to appear in court in New Jersey, that state has also filed a cease-and-desist order, Coindesk reported.

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“If you sell securities in NJ, you must comply with NJ securities laws. And this includes those working in the cryptocurrency market,” tweeted New Jersey Acting Attorney General Andrew Brooke. “Our Bureau of Securities has ordered an NJ-based company — Celsius — to cease offering interest-bearing accounts.”


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