The Chamber of Digital Commerce’s request to file an amicus brief has been approved by the court. Earlier this week, it submitted a motion for leave to file the brief in the SEC v. Ripple case.
Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slid by 19.18%.
Seychelles-based crypto exchange platform CoinFLEX recently announced a formal restructuring proposal and the company’s impending course of action.
Fully decentralized privacy currency Utopia transforms the e-commerce payment landscape. It solves issues for customers for merchants alike, enabling anonymous online purchases across over 1,800 online shops.
A piece of proposed legislation in the House of Representatives would put a two-year moratorium on creating algorithmic stablecoins. According to Bloomberg’s latest version of the legislation, it would be illegal to create or issue new “endogenously collateralized stablecoins.”
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local media.