Bitcoin rises 5.4% to $36,361.69

(Reuters) – Crypto Signals / Bitcoin rose 5.44% to $36,361.69 on Tuesday, adding $1,874.58 to its previous close.

The world’s biggest and best-known cryptocurrency is up 31.1% from the year’s low of $27,734 hit on Jan. 4.

Ether, the coin linked to the ethereum blockchain network, gained 6.53% to $2,218.39, adding $135.93 to its previous close.

Bitcoin rises 5.4% to $36,361.69

Bill Foster, Democratic Representative and co-chair of the Congressional blockchain caucus, has called for a regulatory framework that would enable third parties to reverse fraudulent or criminal transactions.

Foster is a physicist and a Democratic Rep for Illinois. The blockchain caucus is co-chaired by Democratic Rep Darren Soto, and Republican Reps Tom Emmer and David Schweikert.

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The Democrat described the legality of reversing transactions as one of “most fundamental decisions about crypto assets,” and notes that regulators need to be asking:

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User “DepNeanderthal” commented that “anyone that trusts this guy’s ‘trusted third party’ is a sucker. Government and trust are as close to each other as the North and South Pole.”

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Bitcoin rises 5.4% to $36,361.69