Indonesia regulator says financial firms banned from facilitating crypto sales
Indonesia’s Financial Services Authority (OJK) has banned financial firms from offering and facilitating sales of crypto assets amid a boom in crypto trading in the country. OJK warned that the value of crypto assets often fluctuates and that people buying into digital assets should fully understand the risks. The warning follows similar concerns by the central banks of Thailand and Singapore.
Crypto prices today: Bitcoin up 2.4%, ETH falls 1.4%
Bitcoin is currently trading at $36,023, a 2.4% increase over the previous day. Ethereum fell 1.4% over the last 24 hours to $2,379. Solana is up 2.15% to $89.68, while Cardano has fallen by 2.9% to $1.01. Polygon (MATIC) has declined by 1.6% to $1.43. The global crypto market cap stands at $1.62 trillion, up 0.22% over the previous day.
Solana user experience ‘not what it should be’, says co-founder
The Solana network has seen degraded performance in recent days, including sluggish and failing transactions. CEO and co-founder Anatoly Yakovenko acknowledged “growing pains” as increasingly complex transactions affect the network. Solana’s price is down 42% in a week.
Trump Family discovers TrumpCoin; says legal action will be taken
A meme coin called TrumpCoin has caught the attention of members of the Trump family. Donald Trump’s son, Eric Trump, tweeted that TrumpCoin has nothing to do with the Trump family, is not authorized, and legal action will be taken. On its website, the TrumpCoin FAQ says it launched on February 20, 2016, to honor former US President Donald Trump. The current market capitalisation of TrumpCoin is around $1.5 million, according to CoinMarketCap data.
Crypto winter sees $700-billion fall in market cap since start of 2022
Data from CoinGecko suggests that nearly $700 billion have been wiped out of the crypto markets since the start of 2022. Adding to the “crypto-winter” jitters is the sharp drop in crypto market capitalisation, which currently stands at $1.62 trillion, down significantly from its all-time high of $3.1 trillion in November 2021.
India wants crypto regulation clarity from Parliament: Survey
A survey of more than 1,000 digital respondents found 79% of Indians want more clarity on cryptocurrency and NFT regulations in the budget session of Parliament. It also found that 61% of Indians want a regulatory sandbox approach for decentralized finance (DeFi). The survey was conducted by tax and advisory firm Grant Thornton Bharat,
[A regulatory sandbox approach refers to a safe space in which users can test innovative products and services without immediately incurring all the normal regulatory consequences.]
YouTube channels of crypto influencers hacked
In a recent incident, hackers took control of several YouTube channels that belonged to crypto influencers. Some also hacked the channels of several Indian exchanges such as CoinDCX, WazirX, and Unocoin. The hackers posted video instructions asking people to wire them money in cryptocurrency. The description section of the videos included a link to the hacker’s wallet.