While the websites are now blocked, their mobile apps remain available for download and use. This raises questions about how effectively the restrictions can be enforced.
Over the past month, $XRP has skyrocketed by 352%. It is now trading at $2.28, up over 20% in just 24 hours and 70% in the past week.
According to analysts, the Kremlin is trying to find a balance between regulating the industry and allowing it to grow.
In a bid to become a crypto hub, the city has proposed tax exemptions on profits from cryptocurrency investments for hedge funds, private equity firms, and family offices.
Bitwise’s proposed ETF aims to simplify crypto investing by allowing people to gain exposure to both Bitcoin ($BTC) and Ethereum ($ETH) without owning the assets directly.
Analysts suggest that Bitcoin is technically overbought and the correction helps stabilise the market.
Bitcoin’s rally has been a significant factor in driving Tether’s demand. Its value has risen sharply in recent weeks, peaking at $99,600 on 22 November.
During his time as SEC Chair, starting in April 2021, Gensler took a tough stance on regulating cryptocurrencies.
Bitcoin’s current rally has brought it tantalisingly close to the $100,000 mark. Earlier today, the cryptocurrency reached an intraday high of $98,312, reflecting a 6.7% gain in just 24 hours.
MicroStrategy’s bold Bitcoin strategy has had a major impact on its own success. The company has now climbed into the top 100 publicly traded companies in the US, now ranking 97th.
