Bitcoin and its peers failed to sustain the strong upward momentum witnessed at the start of the week and are now in the red.
Overall cryptocurrency market capitalization was $269.19 billion on CoinMarketCap as of 10.15 am ET on Tuesday.
Here is a wrap of the main news from the cryptocurrency and blockchain world over the past 24 hours.
South Korea Revises Cryptocurrency Guidelines
South Korea’s Financial Services Commission, or FSC, revised virtual currency anti-money laundering or AML guidelines for cryptocurrency exchanges in the country. The revision, proposed by Korea Financial Intelligence Unit or KoFIU, will address some insufficiencies related to the implementation of the guidelines.
India’s Top Court Refuses To Stay Central Bank Crypto Ban On Banks
The Supreme Court of India refused to grant temporary stay against the Reserve Bank of India’s impending ban on the country’s commercial banks for providing banking services to businesses and individuals dealing with cryptocurrencies such as Bitcoin, according to local media reports.
UK Food Regulator Trials Blockchain In Meat Processing
UK Government’s food safety regulator announced the first use of blockchain technology in the food sector to ensure improved transparency across the food supply chain. The Food Standards Agency or FSA said it has successfully completed a pilot using blockchain technology in a cattle slaughterhouse, whose work requires a lot of inspection and collation of results.
Thailand Securities Firms’ Body Mulls Starting Crypto Exchange
Thailand’s securities firms are planning to establish a joint cryptocurrency exchange due to growing interest in digital currencies in the country, the Bangkok Post reported. Accordingly, several Thai securities firms are set to apply for a joint crypto operating license with the country’s securities watchdog, the Thai Securities and Exchange Commission.
Coinbase Officially Launches Custody Service For Institutional Clients
Coinbase, one of the most popular crypto exchanges, launched its Coinbase Custody service for institutional clients on Monday. The exchange plans to add clients such as leading crypto hedge funds, exchanges and ICO teams, over the coming weeks.
As of 10.10 am ET on Tuesday, Bitcoin was down 0.42 percent at $6,575.00 and Ethereum was lower by 1.32 percent on Coinbase.
Read more at: RTT News