The Financial Conduct Authority (FCA), the United Kingdom’s top financial regulator, has said that it will further ties on crypto regulation with its United States counterpart so that the rules provide certainty.
Nikhil Rathi, Chief executive of FCA, said while speaking at the Institute for International Economics, “In the past, innovative firms would have been pleading for less regulation. Now they understand and appreciate that rules are there to help provide certainty. One area of global focus is crypto, both opportunities and risks. The US and UK will deepen ties on crypto asset regulation and market developments — including in relation to stablecoins and the exploration of central bank digital currencies,” reported Bitcoin.news.
In other news, Binance (BNB) is counting on the engineering talent of the emerging Web 3.0 community in India and hopes to onboard some promising blockchain tech companies in its incubator program which is now in its fifth season. Ken Li, investment director at Binance Labs, said that they are actively monitoring India’s local market environment to identify the best approach, reported NDTVGadgets360.
“We focus on fundamentals and long-termism to select projects that will bring a direct impact on the blockchain industry. Web 3.0 start-ups in India have great potential to grow,” added Li.
Find out more about how #Binance Labs Incubation Program empowers innovative projects to shape the future of Web3, and apply for the new season here ?https://t.co/rfxpI3dcmM
Application window will close on July 31, 2022!
— Binance Labs Fund (@BinanceLabs) July 7, 2022
The global crypto market capitalisation went up by 1.58 per cent to $978.65 billion as of 8.50 am. However, the global crypto volume was down by 2.94 per cent to $60.49 billion, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $21,310.03, higher by 0.65 per cent in the last 24 hours. Ethereum (ETH) was up by 5.03 per cent to $1,409.43.
Among other significant coins, Cardano (ADA) was up by 2.12 per cent at $0.4605, Algorand (ALGO) was trading with a gain of 3.55 per cent at $0.3485, Solana (SOL) was trading with a gain of 3.07 per cent at $40.54, Polkadot (DOT) was up by 1.52 per cent at $7.20, and Binance Coin (BNB) was up by 2.42 per cent at $254.35.
Today’s top gainer was Ethereum Classic (ETC), which was up by 24.27 per cent at $21.50. The top loser was UNUS SED LEO (LEO), which was down by 5.99 per cent at $5.23.
Meme Coin And DeFi Prices
Dogecoin (DOGE) was up by 1.02 per cent at $0.06476. Its volume to market cap ratio stands at 0.03019. Rival Shiba Inu (SHIB) was up by 1.11 per cent at $0.00001107.
Dogelon Mars (ELON) gained 0.48 per cent to trade at $0.0000003229, Floki Inu (FLOKI) rose 1.64 per cent at $0.000006742, and Samoyed Coin (SAMO) lost 0.42 per cent at $0.01019.
In the DeFi segment, YFI (yearn.finance) was up by 0.51 per cent at $6,295.56, and Terra Classic (LUNC) was trading with a gain of 0.44 per cent at $0.0001033. Avalanche (AVAX) was up by 4.11 per cent at $21.84, Aave (AAVE) rose 0.4 per cent at $92.29, and Uniswap (UNI) was trading with a loss of 0.72 per cent at $7.19.