In cryptocurrencies, Bitcoin was trading with marginal gains today while ether surged over 7%. As per CoinDesk data, Bitcoin was trading slightly higher at $34,505.3. Ether, the second largest cryptocurrency surged over 7% to trade above $2,000 mark. Dogecoin, on the other hand, slipped around 0.4% to trade at $0.25. Other digital tokens like XRP, Cardano were up over 1% over the last 24 hours.
British and Japanese regulators have independently issued warnings against Binance, one of the world’s largest cryptocurrency exchanges. Mexico’s central bank also said financial institutions aren’t allowed to trade or offer services based on cryptocurrencies such as Bitcoin, a day after billionaire Ricardo Salinas Pliego said his bank is on the way to accepting the virtual token.
Britain’s financial regulator over the weekend said Binance cannot conduct any regulated activity and issued a warning to consumers about the platform. Japan also issued a similar warning to Binance stating that it has been providing crypto exchange services to Japanese customers without registration.
Since an all-time high of just under $65,000 hit in mid-April, bitcoin has plunged nearly 46% as sentiment on cryptocurrencies has been crushed amid a crackdown on the sector by China, which banned bitcoin mining activities.
In another news, ether investment products and funds posted record outflows in the last week of June, bearing the brunt of negative sentiment on cryptocurrencies, according to data on Monday from digital asset manager CoinShares. Bitcoin products and funds, meanwhile, suffered a seventh straight week of outflows, totaling $1.3 million. For the year, bitcoin outflows hit about $490 million.
(With inputs from agencies)
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