Crypto influencers face €300K fines in Spain’s advertising crackdown
As per the Financial Times, the National Securities Market Commission (CNMV) of Spain has cracked down on crypto advertising. Spain’s new rules require marketing companies and influencers to include “clear, balanced, impartial and non-misleading” statements about the risks of crypto. If an influencer or platform fails to comply, they may face a fine as high as €300,000.
Crypto prices today: Bitcoin Falls 1.75%, ETH Down 3%
Bitcoin is currently trading at $42,040, a 1.75% decline over the previous day. Ethereum fell 3% over the last 24 hours to $3,188. Solana fell 2.6% to $139.8, while Cardano is up 1.6% to $1.55. Polygon (MATIC) has fallen heavily by 8.4% to $2.20. The global crypto market cap stands at $2.01 trillion, a 2.42% decline over the previous day.
PM Modi calls for global action on crypto
Prime Minister Narendra Modi has called for a collective and synchronized global action to regulate cryptocurrencies. He noted that steps taken by one country to regulate crypto may not be sufficient, given the kind of technology involved. PM Modi was speaking at the World Economic Forum’s Davos Agenda 2022 virtual event.
Land prices surge on Cardano Metaverse project Pavia
Gaming application Pavia, launched on the Cardano network last week, became the first-ever metaverse project on the blockchain. Around 100,000 land parcels were issued on Pavia, each being minted as a unique non-fungible token (NFT) with individual ‘coordinates’. The plots on Pavia were listed for as high as 30,000 Cardano (~$45,600).
NFT platform OpenSea hits record $3.5B in monthly Ethereum volume
OpenSea, a popular marketplace for NFTs, has recorded a new all-time high in monthly Ethereum trading volume, soaring past the $3.5 billion mark. With two more weeks to go before the end of January, OpenSea’s trading volume has now surpassed both the previous all-time of $3.42 billion recorded in August 2021 and $3.24 billion in sales in December.
Crypto Bill likely to miss Budget session
The Central government is unlikely to introduce the cryptocurrency bill in the upcoming budget session of Parliament. It wants to hold more discussions and build consensus on the regulatory framework. The Centre also wants to wait for the pilot launch of the Reserve Bank of India’s digital currency.
$500K Bitcoin donation prompts renewed investigation into Capitol Hill riot: Report
According to a report from Yahoo News, law enforcement and intelligence agencies are investigating the funding sources behind Capitol Hill rioters after a $500,000 transfer worth of Bitcoin has sparked renewed concern. This transfer was first identified in December 2020. Since then, an unnamed source told Yahoo News that the transaction has prompted the government to investigate the origins of funding behind the Capitol Hill rioters.
