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

FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK (Reuters) - Bitcoin briefly climbed above $6,300 (4,839 pounds) 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