Crypto Market Suffers Amid Regulatory Changes

Bitcoin (BTC) and other major cryptocurrencies experienced a drop in price, with BTC hovering around $28,800, down 4.8% in the past 24 hours. This drop in price came after a significant sell order on Binance and hot inflation data in the UK. Traders who were betting on an increase were caught off guard, and most liquidated positions were long. Ether (ETH) price also dropped below $2,000 for the first time in almost a week. Other major cryptos and decentralized finance tokens were also in the red. Decentralized exchanges (DEX) volumes had been surging amid concerns about centralized counterparts. However, regulatory scrutiny continues with the SEC reopening a proposal from last year targeting DeFi exchanges for regulation. On the regulation front, aside from the SEC, lawmakers from multiple parties in the European Union expressed support for the Markets in Crypto Assets (MiCA) regulation during a debate on Wednesday. MiCA would allow […] The post Crypto Market Suffers Amid Regulatory Changes appeared first on COINTURK NEWS.