A day after a surge in cryptocurrency prices driven by optimism surrounding Donald Trump’s proposed US Crypto Strategic Reserves, the market experienced a sharp downturn, erasing $300 billion in value. Bitcoin tumbled nearly 10%, while major altcoins such as Ethereum (ETH), Solana (SOL), and XRP recorded losses exceeding 15%. Crypto Market in Turmoil The steep decline was triggered by Trump’s decision to impose heavy tariffs on China, Mexico, and Canada, unsettling financial markets and prompting a global sell-off. Investor concerns, already heightened by regulatory uncertainty surrounding Trump’s crypto reserve initiative,…
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India to Ban URLs of 9 Crypto Exchanges
The Financial Intelligence Unit (FIU) under the Indian Finance Ministry has issued a show cause notice to nine offshore cryptocurrency exchanges, urging the Ministry of Electronics and Information Technology (MeitY) to block their URLs in India. The move comes in response to alleged non-compliance with India’s anti-money laundering laws. Notable exchanges affected include Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfenex. In a statement, the FIU disclosed that the action was part of a compliance drive against offshore Virtual Digital Assets Service Providers (VDA SPs) under Section…
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