Govt to state stance on crypto after consultations: FM Sitharaman
Finance Minister Nirmala Sitharaman said the consultation process regarding crypto regulation is ongoing. She welcomed the crypto industry to participate in it. After completing the consultation process, the Finance Ministry would sit and examine the legal measures. The government is also reportedly seeing the possibility of tax revenue in crypto.
Crypto prices today: Bitcoin jumps 8.7%, ETH up 8%
Bitcoin is currently trading at $41,591, an 8.7% jump over the previous day. Ethereum rose 8.2% over the last 24 hours to $2,721.73. Solana increased by 6.6% to $88.3, while Cardano is up 5.8% to $0.84. Uniswap surged 11.12% to $9.32. The global crypto market cap stands at $1.83 trillion, an 6.8% increase over the previous day.
Joe Biden to order studies on regulating, issuing crypto: Report
As per reports, US President Joe Biden is expected to sign a long-awaited executive order on cryptocurrencies this week. The order will direct the Justice Department, Treasury, and other agencies to study the legal and economic ramifications of creating a US central bank digital currency.
Ethereum transaction fees drop to six-month low: Report
As per a report from Arcane Research, the seven-day average for Ethereum transaction fees are at their lowest rate since August 2021. The NFT mania contributed to an increase in transactions costs during late 2021. The fall in fees coincides with a decline in crypto asset prices. The exchange value of Ethereum has fallen nearly 12% in the last week.
Bored Ape Yacht Club donates $1M in Ethereum to Ukraine
The Bored Ape Yacht Club (BAYC) NFT collection has donated $1 million to Ukraine’s official Ethereum wallet address. BAYC’s Twitter account shared the information along with an Etherscan transaction link showing that it sent 388.999 ETH. The donation was inspired by its community members’ contributions.