Digital currencies bounced back today, climbing after the South Korean government clarified that it has no immediate plans to ban cryptocurrency trading. The total market capitalization (market cap) of these digital currencies rose to as much as $725.2 billion today, according to CoinMarketCap. It was also reported that the nation's government was developing legislation that would ban cryptocurrency trading. "There is a rumor that South Korea will ban crypto trading," Mati Greenspan, senior market analyst for social trading platform eToro, said yesterday. Finance Minister ClarifiesKim Dong-yeon, South Korea's finance minister, helped provide clarification, stating that the nation was only considering banning digital currency trading, according to CNBC.

Source: Forbes January 12, 2018 16:41 UTC