Market rumors about Bitcoin trading

Bitcoin trading was in the green early on March 2, with Bitcoin going above Rs 34.33 lakh. The Crypto market cap is $1.93 trillion, up 1.10 percent from the previous day. Over the last 24 hours, overall crypto market volume has decreased by 4.05 percent to $104.67 billion. The entire book in DeFi is currently $17.55 billion, which accounts for 16.77 percent of the overall 24-hour volume. The overall volume of stable coins is now $87.52 billion, which accounts for 83.62 percent of the entire 24-hour volume. Bitcoin’s current price is Rs 34.33 lakh, giving it a 43.30 percent market share over other cryptocurrencies. It represents a 0.35 percent increase from the previous day.

The big story on Bitcoin Trading

Exchange of cryptocurrencies Coinbase refrains from imposing a blanket ban on Russian accounts. Coinbase Global Inc, a US cryptocurrency exchange, will continue to prohibit accounts and transactions for Russian clients subject to sanctions, but it will not ban all users from the nation. A Coinbase spokeswoman added, “At this time, we will not impose a blanket restriction on all Coinbase transactions involving Russian addresses.” After Ukraine requested a blanket ban on major crypto exchanges, Binance, the world’s largest crypto exchange, indicated it would not freeze all Russian accounts. On Monday, trading volumes between the Russian rouble and the Tether cryptocurrency soared, showing a surge in interest in crypto among Russians following the currency’s depreciation due to Western sanctions. 

Also, read – Ethereum And Bitcoin Donations to Ukraine

Regulation on Bitcoin Trading

Center for American Progress (CAP), one of Washington’s most crucial liberal think tanks, argued on Tuesday that US regulators might primarily use existing regulations to bring digital assets such as cryptocurrencies under their jurisdiction without additional congressional legislation. According to the think tank, Congress should fill the gaps in the current regulatory framework by establishing laws for Bitcoin trading. However, it cautioned that a new and independent regulatory structure for cryptocurrency might inadvertently impair oversight and generate regulatory arbitrage. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), according to Reuters, could use the CAP research to help them decide how to regulate cryptocurrencies.