As of February 1, the price of bitcoin, the largest cryptocurrency by market capitalization, is up 0.6% to $23,092.18. Ethereum, the second largest cryptocurrency by market capitalization, is currently trading at around $1,580.00 with a decrease of 0.31%.
On February 1st, most cryptocurrencies were trading in positive territory. Despite this, Bitcoin (BTC), Binance Coin (BNB), and Ethereum (ETH) experienced significant losses in trading price with notable gains.
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The UK government has announced plans to regulate the cryptocurrency industry in the wake of the collapse of the FTX cryptocurrency exchange. The move comes in response to growing concerns over the stability and security of cryptocurrency markets, as well as concerns over the potential for money laundering and other illegal activities. The proposed regulations aim to ensure that cryptocurrency exchanges are transparent and accountable, and that consumers are protected from financial loss.
Under the proposed regulations, cryptocurrency exchanges would be required to register with the UK’s financial watchdog, the Financial Conduct Authority (FCA). Exchanges will be subject to regular inspections and audits to ensure that they are operating in a secure and transparent manner. In addition, the FCA will have the power to impose fines and cancel the registration of exchanges that fail to comply with the regulations.
Here are the top cryptocurrencies trading on February 2, 2023, as of 9:00 AM IST:
- Bitcoin: $24,232.49 USD +3.09%
- Ethereum: $1,704.45 USD +5.69%
- Tether: $1.02 USD -0.15%
- USD Coin: $1.00 USD +0.04%
- BNB: $332.19 USD +4.00%
- XRP: $0.4225 USD 2.63%
- Dogecoin: $0.09633 USD +1.16%
- Cardano: $0.4175 USD +5.34%
- Polygon: $1.25 USD +11.30%
- Polkadot: $6.70 USD +5.06%
- TRON: $0.06358 USD +2.06%
- Litecoin: $103.33 USD +4.37%
- Shibu Inu: $0.00001247 USD +2.83%
- Solana : $26.40 USD +6.33%
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