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Bad news for digital currencies: This time India and South Korea

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The Indian government, which has previously backed out of a plan to ban cryptocurrency-related activities, is preparing a bill that would tax the sale and purchase of digital currencies if approved, according to CNBC. The ban on private digital currencies is also likely to be part of the bill. In South Korea, the possibility of closing two-thirds of digital currency exchange offices in the country has increased.

The Chinese government has issued a new statement warning its people not to invest in counterfeit tokens (or NFTs) because their price is a bubble and from a financial point of view, these assets are worth much less than what they are. They are priced now. “When the excitement of the markets subsides, the value of these NFTs will drop significantly,” wrote Wang Junhei, a reporter for the South China Morning Post.

The European Financial Markets and Securities Commission, in its report entitled “Cryptocurrencies: Trends, Risks and Turbulence”, named digital currencies as a threat to the financial stability of markets, which have detrimental environmental consequences, especially in the field of cryptocurrency mining. . The report added that high volatility in digital currencies, along with decentralized financial technology, which weakens the central bank’s role, is detrimental to financial stability.

The total global market value of digital currencies is currently estimated at $ 2030 billion, down 4.17% from the previous day.

Bitcoin currently accounts for 41% of the total digital currency market and Atrium for 18%. Bitcoin was created 12 years ago by an anonymous group of traders on the blockchain platform, and its initial trades were formed in 2009.

Bad news for digital currencies: This time India and South Korea

Digital currency price update (until 15:00 Eastern time); This category contains the price changes of 10 major digital currencies in terms of market value.

1- Bitcoin

Price: $ 44,777.91

Price changes in the last 24 hours: 2.61% decrease

Recent week price changes: 13.70% reduction

2- Atrium

Price: $ 3247.43

Price changes in the last 24 hours: 4.60% reduction

Price changes in the last week: 17.68% decrease

3- Cardano

Price: $ 2.44

Price changes in the last 24 hours: 10.60% reduction

Price changes in the last week: 14.22% decrease

4- Binance Quinn

Price: $ 398.16

Price changes in the last 24 hours: 4.6% decrease

Recent week price changes: 19.25% decrease

5- تتر

Price: $ 1.00

Price changes in the last 24 hours: 0.01% increase

Recent week price changes: 0.01% increase

6- Solana

Price: $ 164.72

Price changes in the last 24 hours: 7.04% decrease

Recent week price changes: 0.38% increase

7- Ripple

Price: $ 1.06

Price changes in the last 24 hours: 4.58% decrease

Recent week price changes: 23.21% decrease

8- Polka Dutt

Price: $ 35.39

Price changes in the last 24 hours: 2.62% increase

Recent week price changes: 3.50% increase

9- Dodge Quinn

Price: $ 0.235

Price changes in the last 24 hours: 3.86% decrease

Recent week price changes: 23.09% decrease

10 – USD Quinn

Price: $ 1.00

Price changes in the last 24 hours: 0.01% increase

Recent week price changes: 0.01% increase

223225

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