On Saturday, Tesla CEO Elon Musk tweets that the prices of cryptocurrencies are excessively high. The crypto market has its biggest slide since March to as much as 17% where Bitcoin failed again to break past $41,000 and plunged down to $37,000.
The Russian government prohibits the deposit of funds into anonymous wallets. According to the legislature, this initiative aims to reduce illegal network activities such as terrorist financing and drug dealing.
According to Chinese reports, another crypto scam has taken place this week, which is similar to the Plustoken platform. Over 700,000 users have been scammed by Dubbed WOTOKEN, and it has stolen a crypto worth over $1 billion.
When banks refused to cooperate with marijuana clinics, stakeholders were forced to look for a new solution. As a consequence of this, the market was flooded with a great number of cryptocurrency projects related to the industry.
Supposedly, the Russian security services and the central bank have come to an understanding on the topic of cryptocurrencies. The organs' intention is to not allow cryptocurrencies as a means of payment on the territory of Russia.
CONSOB blocks another eight websites that offer financial and investment services. One of the services is, for instance, trading in cryptographic assets, currencies and CFD contracts. The regulator claims that the operation of the companies was illegal in Italy and that it has blocked nearly 150 websites of this kind over the past few months.
As a result of a growing number of cryptocurrency-based frauds and financial pyramids, the Ugandan Ministry of Finance warns against investing in crypto assets and pyramids. The government also plans to update its criminal code in order to prohibit such type of frauds.
The Indian Central Bank has confirmed that there is no ban on cryptocurrencies in India. The central bank explained that all it does is separating the entities (like banks) it regulates from the risks associated with trading cryptocurrencies.
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