Last Updated : June 28, 2021 / 08:40 AM IST
Top cryptocurrency news on June 28: Major stories on Bitcoin, Binance Exchange and regulations
A daily round-up of the most interesting articles on cryptocurrencies like BItcoin, Ethereum and Tether to help jump-start the day.
Crypto market is in the green
The global cryptocurrency market is in the green on June 28 (today). Total market cap is $1.37 trillion, a 3.46 percent increase over the last day. The total crypto market volume over the last 24 hours is $74.43 billion, which makes a 13.33 percent decrease.
The volume of all stable coins is now $58.69 billion, which is 78.85 percent of the total cryptocurrency market 24-hour volume. Bitcoin’s price is currently $34,351.88 and it’s dominance is 47.06 percent, an increase of 0.34 percent over the day. Read more here
Financial watchdog orders crypto exchange Binance to stop regulated activities in UK
Britain’s Financial Conduct Authority (FCA) ordered cryptocurrency exchange Binance to stop undertaking any regulated activity in the country, saying the firm lacked authorization. The exchange would not be allowed to undertake any regulated activities without the prior written consent of the FCA, the watchdog said.
“No other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK,” the FCA statement said. Britain’s move comes at a time when Binance, one of the world’s largest cryptocurrency exchanges, is under scrutiny by regulators in other countries, including the United States and Germany. Read full here
Athena says will install 1,500 cryptocurrency ATMs in El Salvador
Athena Bitcoin plans to invest over $1 million to install cryptocurrency ATMs in El Salvador, especially where residents receive remittances from abroad.
According to Athena Bitcoin’s website you can use their ATMs to buy bitcoins or sell them for cash. The firm expects to gradually install some 1,500 ATMs, hire staff and open an office to carry out operations in El Salvador, which in June became the first country to adopt bitcoin as legal tender.
The move takes effect in September. El Salvador’s President Nayib Bukele “presented us with a tough challenge of 1,500 ATMs, we will go for that, but in phases. We are a private company and we want to ensure that our development in the country is sustainable,” said the firm’s director for Latin America Matias Goldenhorn. (Reuters)
El Salvador’s Bitcoin experiment is not as disruptive as it may seem at first sight
The crucial question is the implication of the simultaneous circulation of two ‘assets’ – the dollar and Bitcoin – as a medium of exchange and as legal tender. Monetary history is actually replete with such situations. Read more here