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7/15, 8:24 PM (Source: TeleTrader)
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Bitcoin jumps after Mnuchin's warning

The world's most widely traded cryptocurrency advanced strongly on Monday after the United States revealed determination to bring all digital assets under the same rules as traditional financial services. Futures on CME Globex dipped under $10,000 for the first time since July 2 early in the session and pared losses upon the announcement. Secretary of the Treasury Steve Mnuchin stressed anyone conducting illicit activity with Bitcoin and other cryptocurrencies would be caught.

Some market participants believe recent criticism by government and central bank officials are just a step in the path of adoption of the emerging assets. Mnuchin asserted the serious concerns were also raised with Facebook's Libra digital currency project.

Bitcoin spiked 5.64% to $10,759.79 at 8:23 pm CET after reaching $10,786.78. July futures were 12.43% down for the day at $10,500 following a plunge to $9,915 overnight. Facebook was barely changed at $204.77 per share.

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