arket BuzzBitcoin trades above Rs 25 lakhMajor cryptocurrencies traded in the green early on June 1 as the global crypto market cap increased by 0.21 percent to $1.31 trillion over the last day. On the other hand, the total crypto market volume over the last 24 hours decreased by 5.76% percent to $87.75 billion. The total volume in DeFi stood at $7.85 billion, 8.96 percent of the total crypto market 24-hour volume. The volume of all stable coins was $75.43 billion, which is 85.96 percent of the total crypto market 24-hour volume. Bitcoin is currently trading above Rs 25 lakh. The market dominance of the world's largest cryptocurrency increased to 46.29% by 0.37% over the last day, according to data from CoinMarketCap. Read Full Here
Big StoryTerra Debacle: UK government seeks to regulate stablecoins
Following the collapse of digital currency Terra Luna, which erased $40 billion worth of investors’ money, the UK government has released a consultation paper on stablecoins to mitigate financial stability issues that may materialise should a firm that has reached systemic scale fail. In January 2021, the Treasury issued a consultation and call for evidence inviting views from stakeholders on the UK regulatory approach to crypto-assets and stablecoins. Read Details Here
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