Bitcoin rose 1.5% in early Asia on Tuesday, after firming overnight in line with equity markets and other risk assets, but many crypto traders remained on edge after Saturday's sharp and sudden plunge.
Kenya's President Uhuru Kenyatta approved a change in law that will allow the central bank to regulate digital lenders, his office said on Tuesday, a move that will give the bank power to rein in lenders who violate consumer privacy.
Bitcoin hovered around $49,000 on Monday, down 1.5% on the day, as traders nursed losses after a brutal weekend in which the price of the world's largest digital asset at one point lost over one fifth of its value.
Bitcoin dropped by almost 5% on Monday as the start of the week offered little respite to the world's largest cryptocurrency after a bruising weekend when, at one point, it lost over a fifth of its value.