Bitcoin posted mild gains of about half a per cent, flirting with $26,000-levels, while Ethereum inched up slightly to remain below $1,600-mark.
The US arm of the exchange is formally called BAM Trading Services Inc. and was started in 2019 for US users, who are prohibited from using the main exchange, Binance Holdings.
Bitcoin was struggling to hold gains and remained below $26,000-levels, while Ethereum dropped about 2 per cent to fall below $1,600-mark.
This development comes after the crypto exchange faced regulatory scrutiny by policy makers in India as well as the US.
"The G20 Leaders have welcomed the IMF-FSB Synthesis paper. We expect a lot more discussion on how to implement the regulations faster. The foundation is ready and then we can take it forward,” said a top government official.
Bitcoin posted smart gains on Friday as it rose more than 2 per cent to regain $26,300-levels, while Ethereum moved about a per cent up to hover around $1,650-mark.
The joint paper by IMF and FSB highlights that a blanket ban on cryptocurrencies would not work and would further lead to leakages.
With delegates from the world's most influential economies converging in the capital, stakeholders are waiting with bated breaths to see how the discussions pan out into regulations.
Bitcoin inched up maringally on Thursday as it rose marginally to regain $25,800-levels, while Ethereum also moved on the similar lines but could not cross $1,650-mark.
The G20 has tasked the Financial Stability Board with coordinating the creation of an effective regulatory, supervisory, and oversight framework for crypto-assets
The State Bank of India announced in a release on Monday, “This feature, accessible through the 'eRupee by SBI' application, will empower SBI CBDC users to scan any merchant UPI QR code for transactions,” the bank said in the release.”
Bitcoin added about a half-a-per cent but remained below $26,000-levels, while Ethereum, also edged slightly lower to hold above $ 1,600-mark.
Bitcoin was back in red on Thursday as it dropped about a per cent but remained above $27,000-levels, while Ethereum declined more than a per cent to breach below $,1700 mark.
The US SEC has been rejecting applications of Bitcoin ETFs pointing out the volatility of the underlying asset. But the latest developments, the US courts favouring Greyscale over US SEC in the matter and BlackRock’s latest filing, indicate that Spot Bitcoin ETFs might soon be on the horizon.
Bitcoin remained range-bound as the largest crypto token inched up slightly to firmed at $26,000-levels, while Ethereum moved on the similar line and paved its position above $1,650.
Bitcoin remained range-bound for the day as the largest crypto token inched up slightly to barely hold $26,000-levels, while Ethereum crept higher to hold above the $1,650-mark.
Bhattacharya added that apart from the ethical concerns regarding AI, there are economic factors too that are limiting widespread adoption across enterprises.
Bitcoin was back under selling pressure as it declined more than a per cent to barely hold $26,000-levels, while Ethereum fell on the similar lines and managed to stay above the $1,650-mark.
Addressing the crypto market, Damodaran expressed skepticism regarding the adoption and behavior of cryptocurrencies, particularly Bitcoin.
Bitcoin gained as much as two per cent to near $26,500-levels, while Ethereum surged more than 2 per cent and regained the $1,650-mark.
Bitcoin was trading flat as it dropped slightly but managed to hold above $26,000-levels, while Ethereum dropped about a per cent but retained above $1,650-mark.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today