After facing weeks of mounting negative headlines that had wiped out billions in value, cryptocurrencies won a reprieve of sorts.
Bitcoin extended a rebound on Monday as the regulatory concerns that have plagued digital currencies this year showed signs of subsiding.
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After facing weeks of mounting negative headlines that had wiped out billions in value, cryptocurrencies won a reprieve of sorts as top U.S. regulators testifying before a Senate committee called for greater oversight without proposing industry-killing measures. That news gave enough positive momentum for traders to shrug off a cryptocurrency ban from Thailand's central bank.