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Crypto News – India Union Government Awaits FSB Crypto Regulations!

Crypto News: Indian Government is already preparing its legislation on crypto regulations, but central authorities await a cross-border FSB crypto regulation framework.

  • The union government of India awaits an internationally feasible solution by FSB regarding crypto transactions.
  • The global FSB (Financial Stability Board) is an international committee of 68 member institutions from globally prominent countries.
  • SEBI (Securities and Exchange Board of India) is the Indian member institution representing the nation in the FSB.
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» India Government Eyes FBS Crypto Regulation Oct 2022 Release! 

FSB is an international body governing and addressing vulnerabilities concerning global financial systems. It is represented by national institutions of Securities and Exchange boards of nations like Australia, Canada, Brazil, China, France, Italy, Japan, etc.

  • A direct spokesperson close to the committee per crypto news source mentioned banning it outrightly solely within the country would still subject it to unregulated global use.
  • While the Indian Finance Ministry and RBI did not comment on the subject, the FBS is anticipated to release its Crypto regulations framework in October 2022.

» More Crypto News Today!

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→ South Korea: 16 Arrested for Illegitimate $2B Crypto Forex Trades!

The South Korean authorities have reportedly (Newsis) arrested 16 entities connected to illegal crypto forex trade. Of the 16, two persons linked to illicit transactions will be prosecuted, with seven to pay hefty fines for negligence.

  • The Korean Customs Services department has been tracking transactions between individuals with illegal remittance agencies.
  • Investigations reportedly discovered roughly 2.7 trillion won (~$2 billion) illegally connected to the domestic and foreign crypto exchanges.

Also Read: Will Crypto Tokens Reserve Beat USD as International Currency?

→ Today, ETH dips below $1,600 While BTC Holds $20K Resistance!

The bullish stance of ETH died out earlier on Thursday, opening with BTC continuing to hold the sentimental $20K support. Still, it is anticipated that ETH will gain a more bullish stance depending on updates regarding the ETH network Merge.

  • Alternatively, other Altcoins fall by 4% on the Thursday opening day.
  • The global crypto market cap hovered above the $980.54 billion mark, but the trading volume dipped by 10%, close to ~$69.70 billion.

→ Turkish Thodex Crypto Exchange Founder Arrested for Crypto Fraud!

Authorities of Albania arrested the 28 years old founder of Thodex, a Turkey-based Crypto Exchange Firm. The founder had reportedly duped over 800 investors of more than ~300 million Turkish Lira and had been on the run.

  • Albanian Police worked together with Interpol to arrest Thodex Founder Faruk Fatih Ozer.
  • The arrest and detainment also include confiscating laptops, mobiles, and bank cards.
  • While the founder awaits trial, it is anticipated he will allegedly face a life sentence along with five others and be deported to Turkey.

Crypto Sale Today – September 1st, 2022

The top cryptocurrency prices in the global crypto market appear volatile as of crypto today numbers. The following figures reflect their individual positions:

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  • (BTC) Bitcoin
    • Average Price: $20,099.75
    • 24h: – 1.37% ↓
  • (ETH) Ethereum
    • Average Price: $1,558.08
    • 24h: – 3.23% ↓
  • (BNB) Binance Coin
    • Average Price: $278.86
    • 24h: – 3.73% ↓
  • (XRP) Ripple
    • Average Price: $0.327
    • 24h: – 1.76% ↓
  • (ADA) Cardano
    • Average Price: $0.4505
    • 24h: – 2.60% ↓
  • (SOL) Solana
    • Average Price: $31.47
    • 24h: – 3.43% ↓

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