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The parliamentary standing committee on finance seemed to favour regulation and not an outright ban, said the report.
Six of the top ten cryptocurrencies were trading in the red on Wednesday with Polkadot losing 4.62% to $50.56, while Dogecoin dropped 4.36% to $0.27.
Solana fell 2.81% to $240.53. Similarly, Binance Coin slips 2.50% to $634.14. The world’s oldest and largest cryptocurrency Bitcoin showed a decline of 1.33% to $66,759.79, while the second-largest token Ethereum slumped by 1.21% to $4,729.90.
Among other virtual currencies in the top-10 list, Cardano rose 4.15% to $2.23 and XRP added 2.69% to $1.24. In terms of ranking, all the cryptocurrencies retained their previous slots, except for Cardano which moved two spots higher to the fourth position.
Cryptocurrency prices
Cryptocurrency market cap hits $3 trillion mark for 1st time
Bitcoin and Ethereum values hit an all time high as global cryptocurrency markets hit the $3 trillion mark on Tuesday.
Bitcoin touched an all time high of $68,641.57, while Ethereum hit $4,857.25. Despite uncertainties and high volatility surrounding it, Bitcoin may touch the $1,00,000 mark by the end of this year. The market cap of the largest and the oldest cryptocurrency has crossed the $2.5 trillion mark, amid its rising adoption globally, particularly in India.
Mastercard set to launch crypto linked payment cards in Asia Pacific
Mastercard has entered into a partnership with cryptocurrency service providers Amber, Bitkub and CoinJar to launch its first crypto-funded payments cards in the Asia Pacific (APAC) region. The payment card company had said in February this year, that it will begin supporting cryptocurrencies in its network.
The announcement comes on the back of some merchants accepting payments in digital currencies like Bitcoin and Ethereum. 45% of those living in APAC are considering cryptocurrencies as a mode of payment next year, as per a Mastercard survey.
Thailand-based Amber Group and Bitkub, along with CoinJar based out of Australia offer cryptocurrency purchase and exchange services in their respective domestic markets. These are the first APAC-based cryptocurrency platforms to join Mastercard’s global crypto card programme that lets cardholders convert their crypto holdings into a fiat currency.