Binance Crypto Exchange Stops Service in Russia In Line With EU Sanctions; Bitcoin Falls
The price of Bitcoin fell by 4.58 per cent in the last 24 hours, Ethereum down by 3.91 per cent
Global cryptocurrency exchange, Binance, has deactivated the accounts of its major clients in Russia, cutting back its services in the country in line with European Union sanctions following Moscow’s invasion of Ukraine.Russian nationals and people living in Russia, as well as companies based there that hold crypto worth over 10,000 euros ($10,900), would be banned from making new deposits or trading, Reuters reported. Elsewhere, Sandeep Nailwal, the CEO of the crypto exchange Polygon has said that India needs a single regulator to oversee all crypto-related matters. Nailwal told Coindesk that the Reserve Bank of India (RBI), the Securities and Exchange Board of India (Sebi), the Goods and Services Tax (GST) Council and the Ministry of Finance would encourage projects like his own to set up shop in the country.
In other news, Hyderabad-based TRST01 Blockchain has announced the listing of ‘Bhu’ NFT, which is ’Made in India’, and also the country’s first real-world carbon offset non-fungible token (NFT), on OpenSea marketplace. Bhu is an NFT representing 1,000 kg of carbon sequestration or one carbon credit, which is a real-world tradable asset, Financial Express reported.