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Bitcoin retreated with reports on the cryptocurrency ban in India

2019-04-26 10:43 am | Resource: News | No Views : 29

Bitcoin retreated with reports on the cryptocurrency ban in India Cryptocurrency fell on Friday, led by the world's largest currency, Bitcoin and other currencies, with the value of all the Cryptocurrency tracked by Coin Market Cap at about $ 10 billion.
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  • Bitcoin currency price was $ 1.288 per share, down $ 1.25%.
  • The XRP fell to $ 0.29513 on Friday, down 0.57% a day.
  • Ethereum was trading at $ 156.03, a loss of 4.12%.

Market capitalization of the Cryptocurrency market declined

Bitcoin's market capitalization was $ 93.24646B or 54.74% of the total Cryptocurrency market cap, while Ethereum's total market capitalization was 16.41440B or 9.64% of the Cryptocurrency market. While the downward movement pushed the XRP market to $ 12.27157B, or 7.20% of the total market cap of Cryptocurrency. At their highest, the market value of XRP reached 79.53400B.

US investigations

The drop came after the New York attorney general raised doubts about the stability of Tether, Cryptocurrency, which plays a central role in the worldwide trading of Cryptocurrency markets, which trade in a very tight range around $ 1. "Our investigations have identified that operators of the BitVenix platform - which controls Cryptocurrency" Tether "- have been involved in the cover-up to hide the apparent loss of $ 850 million in corporate and customer money, prosecutor Leticia James said in a statement Thursday.

India is considering imposing a ban on Cryptocurrency

In other news, the Indian government has begun inter-ministerial consultations on a bill known as the "Cryptocurrency Prohibition and the Regulation of the Official Cryptocurrency Act of 2019," local newspaper The Economic Times reported. Some administrations are said to support a complete ban on "selling, buying and issuing all types of Cryptocurrency". These include the Department of Economic Affairs, the Central Council for Direct Taxes, the Central Council for Indirect Taxes and Customs, and the Investor Education and Protection Fund.

A final law on the new government will be proposed after the general elections in May, a government official told the Economic Times. While India seeks to ban Cryptocurrency, Malta has issued a guidance note to the public to warn against asset risk and fraud.

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