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cryptonews-india

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  1. Last week, the SEC denied a total of 9 ETF requests. However, the Cboe Bitcoin ETF is still pending. While Bitcoin saw a price crash during previous ETF denials, there was no such incident last week. However, there was a freak incident last week. While Bitmex went down for just 10 minutes, the price of one Bitcoin shot up from $6,400 to $7,000. It was a technical issue from Bitmex which caused a temporary market pump. The market cap went to a low of $202 Billion. However, it is now back up at $217 Billion. You can read the full analysis here https://www.crypto-news.in/analysis/crypto-weekly-byte-markets-stable-multiple-etfs-denied/
  2. Apart from the Law Commission of India, there is also another body constituted by the government to draft regulations for cryptocurrencies. On that basis, it is fair to assume, that the government may not outright ban cryptocurrencies, but may merely regulate the same.
  3. WazirX, the cryptocurrency exchange based out of India, introduced a peer-to-peer service (P2P). The exchange also announced that one of its first pair is Tether (USDT) and INR. It added that a user would not have to worry about price fluctuations while buying (or cashing in) through WazirX P2P as the value of USDT is pegged to the US dollar and it’s very stable in day to day value.

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