Crypto News Daily: The Indian Blockchain and Crypto Assets Council (BACC) is ruled to be disassembled over several compliance issues.
- Internet and Mobile Association of India (IAMAI) deals a big setback to Indian Crypto Investors and Crypto Exchanges.
- The IAMAI called a meeting and discussed it with Crypto Exchanges like CoinSwitch Kuber, CoinDCX, and WazirX.
» IAMAI calls out BACC for Indiscipline and Partial Compliance.
A confidential source cites disagreements between the Association and the Indian Crypto Exchange founders. IAMAI is reportedly dismayed by the lack of compliance shown by BACC in managing crypto regulation enforcement requirements and demands by the Government.
The Association adds that the BACC has only shown accountability when taking down unregulated Crypto commercials from TV and Digital Media. Moreover, the Association calls out Crypto Exchanges for delaying independent audits.
- The IAMAI decision cripples the Indian Crypto Future, especially when Crypto Trading is at an all-time low, credits to the 1% TDS rule in effect since 1st July 2022.
→ Voyager Digital Bankruptcy Will Preserve Assets Than Returning
The Voyager Digital recovery plan affirms to let its user base reaccess their accounts. However, it fails to make it publicly known whether the user assets’ equivalent funds would be returned or not.
- Voyager Digital Social Announcement previously mentioned it has $1.3B user assets and $650M from the Three Arrows Capital claim.
- Executives working on restoring USD deposits confirmed the users would regain their funds.
- The USD funds of users are held within the For Benefit of Customers (FCB) account at MCB, New York.
- Voyager digital has not mentioned any figures as to the user funds they hold within the account or how much the users would get.
→ KuCoin Survey: Saudi Arabia leads Crypto Adoption & Trading Market!
The survey reveals over 76% of the population has traded crypto assets in the past six months. Data also reveals that 49% percent of crypto investors in Saudi own long-term interest in holding crypto.
- The survey declares that 31% of the crypto owners in Saudi won’t add to their crypto holdings within the current market state.
- Out of the 76% of crypto investors, a whopping 63% of the demographic is males.
- The high crypto penetration and adoption figures reflect the Crypto Market to remain bold in the MENA regions.
→ Australian FinTech Coinpanion launches Credit Score Rating!
Supporting better evaluation of crypto projects on the Australian continent, Coinpanion launches a Crypto Rating system.
- The Coinpanion Crypto Score (CPCS Score) will compare the performance & sentiment metrics of cryptos.
- The rating system will be useful for checking monthly crypto portfolio performance for better risk management.
- Coinpanion Crypto Score (CPCS Score) ranges from 0-1000, accounted for by four central sub-scores.
Crypto Sale Today – July 14th, 2022
On the global crypto market, the top cryptocurrencies prices or crypto today reflect the following figures:
- (BTC) Bitcoin
- Average Price: $19,760.23
- 24h: + 0.12% ↑
- (ETH) Ethereum
- Average Price: $1,082.53
- 24h: – 0.15% ↓
- (BNB) Binance Coin
- Average Price: $228.48
- 24h: – 0.29% ↓
- (XRP) Ripple
- Average Price: $0.3147
- 24h: – 0.14% ↓
- (ADA) Cardano
- Average Price: $0.4206
- 24h: – 0.29% ↓
- (SOL) Solana
- Average Price: $33.93
- 24h: + 0.09% ↑