The price of Ether fell by 1.12 percent. Its price was around $3,171 on Indian exchanges and $3,423 on international exchanges. According to CoinMarketCap, the crypto market Bitcoin has a share of 54.1 percent and Ether has 18.2 percent. Binance Coin, Solana, Polkadot, Chainlink, Near Protocol, Polygon, Litecoin and Cronos also declined. The bullish cryptocurrencies included Tron, Braintrust and Iota. The market capitalization of crypto was down 2.06 percent to around $2.3 trillion in the past one day.
Shivam Thakral, CEO of crypto exchange BuyUcoin, said, “Jump Crypto is being investigated by the Commodity Futures Trading Commission (CFTC) in the US. It remains to be seen whether the CFTC considers the charges against the company. This has had an impact on the market and the prices of Bitcoin and Ether have fallen.” The markets desk of crypto app CoinSwitch said, “International bank Standard Chartered is set to create a spot trading desk for Bitcoin and Ethereum. This indicates the growing interest of financial institutions in digital assets.”
US crypto exchange Binance has been fined $22.5 lakh (about Rs 18.8 crore) in the country. The Financial Intelligence Unit (FIU) said on Thursday that this fine has been imposed for not complying with the Prevention of Money Laundering Act (PMLA) Act. Crypto-related firms have to follow this law for business in the country. FIU said in a statement that Binance was issued a notice and questions were raised about providing services to the citizens of the country without complying with the PMLA law. In this notice, the exchange was asked why action should not be taken against it for not complying with the duties under this law. Binance had given its answer to this. FIU has said that the allegations against Binance have been found to be correct.