A daily update on the very interesting topics of the day, which is cryptocurrencies like Bitcoin, Ethereum, and Tether to help your day to get a kick start.
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Prices of Cryptocurrency For Today
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Bitcoin’s market supremacy fell by 0.03 percent to 41.97 percent and the currency was trading at $44,039.12 on the morning of 17 February. In the terms of rupees, Bitcoin fell 0.03 percent to trade at rupees 34,26,961 while we saw a rise in Ethereum with0.17 percent to rupees 2,45,505.3. We saw a fall in Cardano with 0.46 percent to rupees 85.16 and Avalanche rose 4.56 percent to rupees to rupees 7,644.04.
Polkadot also experienced a fall to 0.11 percent to rupees 1,547.43 and Litecoin was down 1.58 percent to rupees 9,932.51 in the last 24 hours. Tether was also seen a downfall of 0.1 percent to rupees 77.98. We saw a rise of 1.46 percent, while the Dogecoin was down by 0.45 percent to trade at rupees 11.65. Terra [LUNA] jumped by 0.24 percent to rupees 4,385.31.
El Salvador’s Bitcoin May Cause Risk to U.S. Financial System
Senators stated that ” El Salvador’s bitcoin may cause risk to U.S. financial system.” They also introduced legislation requiring the state department to write a report on El Salvador’s Bitcoin law and also to develop a plan to “mitigate potential risks to the U.S. financial system.
” The law which is proposed is, the accountability for the cryptocurrency in El Salvador’s [ACES] act, It was introduced by Jim Risch [R-Idaho], Bob Menendez [D.N.J] who is ranking member and also the chairman of the Senate Foreign Relations Committee and Bill Cassidy [R-La].
The senators stated in a press release that El Salvador’s bitcoin law “raises significant concerns” and they also proposed legislation that gives the state department 60 days to produce a report on the Central American country’s adoption of bitcoin may pass the bill.
Russian Ministers Trying to Legalize the Bitcoin Mining in Few Areas
The Ministry of Economic Development of Russia recently introduced a proposal to explicitly legalize and tax bitcoin mining in regions with an electricity surplus. It says Bitcoin mining, which exists in something of a legal grey area, must be recognized as a form of a “Commercial activity” and taxed once coins are converted into rubles. The proposal is designed in such a way that the country can benefit from mining.
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