Bitcoin is presently trading for Rs 34.33 lakh, and it has a market share of 43.30 percent compared to all other cryptocurrencies. This is a 0.35 percent gain over the previous day. Early on March 2, cryptocurrency prices were trading in the green. According to CoinMarketCap, the worldwide cryptocurrency market capitalization is $1.93 trillion, representing a 1.10 percent gain over the previous day. The overall cryptocurrency market volume for the last 24 hours has decreased by 4.05 percent to $104.67 billion, according to CoinMarketCap.
The overall volume in Defi is present $17.55 billion, accounting for 16.77 percent of the entire 24-hour book in the cryptocurrency market. The comprehensive text of all stable currencies is currently $87.52 billion, accounting for 83.62 percent of the whole 24-hour volume of the cryptocurrency market.
Bitcoin is presently trading for Rs 34.33 lakh, and it has a market share of 43.30 percent compared to all other cryptocurrencies. This is a 0.35 percent gain over the previous day.
As reported by the Washington Post, the Center for American Progress (CAP), one of the most influential liberal think tanks in the country, said on Tuesday that US regulators could broadly use existing laws to bring digital assets such as cryptocurrencies under their supervision without the need for new congressional legislation. Reuters stated that regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) might utilize the CAP research to help them judge how to regulate cryptocurrencies in the future.
Regulators still have no consensus on the appropriate approach to governing cryptocurrencies, particularly so-called “stable coins,” whose designers claim they have tied their values to the dollar and other fiat currencies. In a study released last year, the US Treasury Department recommended that Congress take up the problem. According to the think tank, it would be beneficial for Congress to fix loopholes in the present regulatory framework, such as by establishing laws for crypto-currency commodities, among other things. A separate and independent regulatory framework for cryptocurrency, however, might unintentionally impair oversight and result in regulatory arbitrage, according to the report.
According to Reuters, Coinbase Global Inc, a cryptocurrency exchange based in the United States, would continue to restrict accounts and transactions of Russian customers who are subject to sanctions. Still, it will refrain from banning all users from the nation entirely.
Currently, a Coinbase spokeswoman said that “we will not impose a blanket restriction on all Coinbase transactions that include Russian addresses.”
Binance, the world’s largest cryptocurrency exchange, has also said that it would not freeze all Russian accounts in response to Ukraine’s call for a blanket ban on cryptocurrency exchanges.
Financial sanctions against Russia have been implemented by Western nations like the United States and the United Kingdom due to Ukraine’s invasion of Ukraine, with key Russian banks being barred from participating in the SWIFT international payments system.
The amount of trading between the Russian rouble and the Tether cryptocurrency increased dramatically on Monday, showing that Russians are becoming more interested in cryptocurrencies due to Western sanctions that have hurt the local currency.
The following are the values of the major cryptocurrencies as of 8:05 a.m. on March 02, according to statistics from WazirX: