Senate Committee Of Brazil Approves Bill Regulating Crypto Transactions, Bitcoin Price Rises

Brazil is likely to introduce crypto regulation bill soon. Meanwhile, the price of Bitcoin rose 3.18 per cent in the last 24 hours; Ethereum was down 4.52 per cent.
Crypto update today
Crypto update today

Recently, the Brazilian Senate economic affairs committee has approved a bill on regulations of crypto transactions. The bill, introduced by Senator Flávio Arns, has to be voted on by the Senate plenary and, if approved, then by the Brazilian Chamber of Deputies. The executive branch then has the power to veto the bill, Coindesk reported.

In the cryptocurrency market, the price of Bitcoin (BTC) was up by 3.18 per cent in the last 24 hours, while it was trading at $38,871.63 at 4:30 pm IST. Its dominance in the crypto market is currently at 41.85 per cent, down by 0.29 per cent in the last 24 hours, according to Coinmarketcap.com.

Ethereum (ETH) was trading at $2,714.85, with a rise of 4.52 per cent in the last 24 hours, while Binance Coin (BNB) was rising by 3.96 per cent over the same period and was trading at $380.61. Solana (SOL) was up by 7.10 per cent to $91.14 and Cardano (ADA) was up by 7.56 per cent to $0.9311.

Meme Coins

Among meme coins, Dogecoin was up by 3.90 per cent, and was trading at $0.1299 at 4:30 pm. Rival Shiba Inu was up by 7.41 per cent in the last 24 hours and was trading at $0.00002652. Dogelon Mars was up by 5.49 per cent and was trading at $0.0000008168, while Samoyedcoin was trading at $0.01976, recording a fall of 6.15 per cent in the last 24 hours.

Overall Scenario

The global crypto market cap was at $1.76 trillion, registering an increase of 4.12 per cent in the last 24 hours, while the total crypto market volume was $80.65 billion, down by 27.61 per cent.

Australian Crypto Coin Green (ACCG) became the biggest gainer, recording a rise of 720.76 per cent. It was trading at $0.09087

at 4:30 pm, as per Coinmarketcap data. In contrast, Spook Inu (SINU) witnessed the maximum loss, falling 100.00 per cent, it was trading at $0.0000000004252, shows the data in CoinMarket Cap.

Latest Update

A 27-year-old man held an Apple Store customer hostage for several hours at the company's flagship store in Amsterdam and demanded $200 million in cryptocurrency, IANS reported. Moreover, the suspect, in camouflage gear, fired a gun and then held an Apple employee hostage for several hours before being apprehended late on Tuesday.

Almost three months after Prime Minister Narendra Modi came down on “misleading ads” in the cryptocurrency space in November 2021, the Advertising Standards Council of India (ASCI) has introduced a set of 12 guidelines for the advertisement and promotion of virtual digital assets (VDAs) and services such as cryptos and non-fungible assets (NFTs).

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