Crypto And Decentralized Finance Is Regulatory Arbitrage, Says CEA; Bitcoin Falls – Tech Tribune France

Crypto and decentralized financial instruments appear to be a case of regulatory arbitrage rather than financial innovation, Chief Economic Advisor V. Anantha Nageswaran said at the India International Fintech Festival.

According to Nageswaran, crypto and decentralized finance have yet to pass the fiat currency test. India has started taxing cryptocurrency transactions and is expected to complete a consultation paper on the matter. The government has refused to go public with its position on cryptocurrency until the consultation document is released. Incidentally, Reserve Bank of India (RBI) Deputy Governor Rabi Sankar has also been critical of private cryptocurrencies over the past year.

In other news, according to CoinDesk, cryptocurrency exchange OSL Digital Securities has partnered with Interactive Brokers to provide virtual asset services in Hong Kong. OSL is a subsidiary of BC Technology Group, whose shares rose 4.39% in the past 24 hours to HK$4.04, Coindesk reported.

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Following this agreement, Interactive Brokers will provide cryptocurrency services directly to its professional trading clients in Hong Kong.

Investors around the world are flocking to digital asset markets, and the partnership with OSL comes at a critical time in the growth of Hong Kong’s regulated digital asset ecosystem, according to David Friedland, Head of APAC at Interactive Brokers. .

Crypto prices

The price of Bitcoin in the cryptocurrency market fell 0.30% in the past 24 hours, and it was trading at $30,349.30 as of 5:30 PM IST. According to Coinmarketcap.com, its dominance in the crypto market is currently at 46.44%, down 0.09% in the last 24 hours.

Over the past 24 hours, Ethereum (ETH) was trading at $1,808.17, down 0.07%, while Binance Coin (BNB) was down 0.06% over the same period. and traded at $291.04. Solana (SOL) was up 4.86% at $41.37, while Cardano (ADA) was down 0.30% at $0.6428.

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Dogecoin was trading at $0.07997 as of 5:30 PM IST, down 0.09% on Coinmarketcap.com. Its rival, Shiba Inu, was down 0.33% and it was trading at $0.00001068. Samoyedcoin was down 1.15% and trading at $0.005954, while Dogelon Mars was up 0.43% and trading at $0.0000004288.

Overall scenario

According to Coinmarketcap.com, the global crypto market capitalization was $1.25 trillion, an increase of 0.13% in the last 24 hours, while the total crypto market volume was 63, $78 billion, a decrease of 29.85%.

Burn to Earn was the biggest winner, earning 924.42%. It was trading at $0.000000474 as of 5:30 p.m. IST, according to Coinmarketcap. In contrast, Saitama experienced the maximum loss and fell 90.41%. It was trading at $0.0000000005417.

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Crypto And Decentralized Finance Is Regulatory Arbitrage, Says CEA; Bitcoin Falls – Tech Tribune France


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