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Bitcoin rises above $6,300 as N.Y. approves dollar-linked digital currencies

FILE PHOTO - A cryptocurrency mining computer equipped with cooling fans is displayed at a computer mall in Hong Kong, China May 17, 2018. REUTERS/Bobby Yip/File Photo

NEW YORK (Reuters) - Bitcoin briefly climbed above $6,300 on Monday after New York state’s Department of Financial Services approved Gemini Trust Company’s and Paxos Trust Company’s dollar-linked digital currencies, the first stablecoins to get the nod from the regulator.

At 9:24 a.m. (1324 GMT), the world’s biggest and best known virtual currency was up 0.58 pct at $6,268.50 on Luxembourg-based Bitstamp exchange.

Reporting by Richard Leong

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