Market Ups & Downs and Regulations: This Week’s Crypto Stuff

Venezuela has put forward its regulations over Crypto remittances. It has set a monthly limit and collects commissions upto 15% of the transaction. Further, they’ve introduced a registry for crypto service providers.

Whereas in India, the government seems to wind up preparations and set to release its first draft soon.

Market Ups & Downs and Regulations: This Week’s Crypto Stuff

“India Wants Crypto” an online campaign started over Twitter by Wazirx’s CEO, Nischal Shetty marks 100days. The community is optimistic about the authority’s announcement.

Famous peer-to-peer exchange – Localbitcoins has just updated its user identity requirements in accordance with Finland’s regulations. It said it’s cooperating with the agencies in fighting against EU’s anti-money laundering cases.

BTT, highly believed and backed by Tron’s founder Justin Sun, has a roller coaster ride this week. The much-hyped BitTorrent token has its beginning reasonably great. Upon its launch, it was ranked in top 10 of the weekly gainer’s chart and simultaneously, ranked in top 20 of the weekly losers chart.

Beginning this week with a good start, BTT was ranked eighth in the top grossing list with 83.52% gain. Trading at $0.000861 and $150M+ trading volume.

Days later, it flew down with -7.84% loss and ranking at nineteenth in the weekly losers list (valued at $0.000851 with $150M+ volume).

Having such swings, BTT is still optimistic in the community with continuous marketing and several exchange listings.

Another notable coin, LTC has a 26% rise in its last week with a $1.65B+ trading volume and gains the fourth position by market cap.

Another big thing?

In last week’s “Satoshi Roundtable“, dignitaries proposed to raise the Bitcoin’s 21million cap. As its block reward getting halved every four years and increased mining costs, there are discussions prevailing to make it more sustainable in the future. Final resolutions are yet unclear.