Biden’s executive order on digital assets splits crypto industry and Bitcoin idealists
US President Biden recently signed an Executive Order on Ensuring Responsible Development of Digital Assets. The order seeks to find ways to mitigate risks to both individual consumers and the global financial system. It also aims to prevent the misuse of crypto for criminal activities.
Many within the crypto industry are optimistic it will lead to clearer regulations and a fair approach toward assets. Others argue the order lacks substance or is too focused on central bank digital currencies.
Crypto prices today: Bitcoin falls 5.4%, ETH down 4.8%
Bitcoin is currently trading at $39,328, an 5.4% decline over the previous day. Ethereum fell 4.8% over the last 24 hours to $2,591.91. Solana decreased by 6.7% to $82.5, while Cardano is down 4.13% to $0.805. Avalanche (AVAX) slumped 7.4% to $73.12. The global crypto market cap stands at $1.75 trillion, an 4.35% decline over the previous day.
Crypto is helping Ukraine amid Russia’s invasion, Says Deputy Minister
Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov noted that cryptocurrencies are helping Ukraine in the wake of Russia’s invasion. However, he does not believe crypto donations are playing a “major part” in Ukraine’s wider economy. Bornyakov also said that the total amount of crypto donations made to Ukraine is now close to $100 million.
Russia, Belarus sanctions extend to crypto: EU
The European Union (EU) has clarified that sanctions placed on Russia and Belarus extend to crypto assets. The EU said crypto-assets fall into the category of “transferrable securities”, and are clearly included in the scope of sanctions imposed on Russia.
Adobe taps Polygon to scale NFT functionality in Behance social platform
Software company Adobe is working with Polygon to integrate the Ethereum scaling program into its Behance social media platform. The integration will allow creators to showcase non-fungible tokens (NFTs) to the world while minimizing their carbon footprint and transaction fees. Adobe acquired Behance in December 2012.