Russia's Crypto Exchange Shift: Abandons National Exchange Plans

Latest Crypto News: SEC Lawsuit Update, Bali's Warning on Crypto Usage, and Beijing's Web3 Industry Development ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.16T (+0.41%) 24 Hour Volume $27.65 (-19.69%) Notable Movers[(MIOTA) $0.2192]( (+6.64%) Notable Movers (DeFi)[(JOE) $0.447]( (+10.82%) Bitcoin Dominance 46.55% [(-0.08%)]( Bitcoin Price[(BTC) $27,970.41 (+0.30%)]( Ethereum Price[(ETH) $1,912.24 (+0.47%)]( Cardano Price[(ADA) $0.3823 (+0.81%)]( Today’s Top Stories [U.S. Debt Ceiling Deal Blocks Bitcoin Mining Tax]( Legislation addressing the U.S. debt ceiling and preventing a potential default may eliminate a proposed tax on energy consumption by cryptocurrency miners, according to Representative Warren Davidson. The draft bill proposes a two-year suspension of the debt ceiling and is expected to be voted upon by lawmakers soon. [Beijing Government Releases Web3 White Paper]( Beijing's municipal government has published a white paper focusing on the development of the local Web3 industry, signaling its commitment to foster growth and allocate significant funding to establish itself as a global innovation hub for the digital economy. The release of the white paper comes at a notable time when Hong Kong is implementing new cryptocurrency regulations and suggests a potential shift in China's stance towards the industry. [Russia Scraps Plan for National Crypto Exchange]( Russia has abandoned plans for a national cryptocurrency exchange and will focus on regulating multiple crypto trading platforms instead, aiming to establish rules for creating and managing these platforms to facilitate cross-border transactions and bypass potential sanctions. The regulatory framework is expected to be supervised by the central bank. [Gemini and Genesis Seek Dismissal of SEC Lawsuit]( Crypto lender Genesis Global Capital and crypto exchange Gemini have filed a motion to dismiss the SEC's lawsuit accusing them of selling unregistered securities, arguing that the SEC's treatment of the contract as an unregistered security lacks a basis in law or fact. The outcome of the court's decision on the motion will determine the future trajectory of the case. [Bali Issues Warning Against Tourists Using Crypto]( Bali's governor has issued a warning to tourists against using cryptocurrencies for payments, with potential consequences including deportation and criminal penalties. The stricter stance aims to manage the post-COVID influx of visitors, despite reports of increased crypto usage in certain tourist areas. [Read The Full Newsletter]( [Last Week on Crypto Twitter: Scam in May and Go Away]( Last Week on Crypto Twitter: Scam in May and Go Away From a multi-billion memecoin empire to Rollbit drama — find out about these and more in our weekly CT roundup. [Read More]( [Crypto Trading Fees Decoded: How To Navigate Cost and Optimize Trading Strategies]( Crypto Trading Fees Decoded: How To Navigate Cost and Optimize Trading Strategies CoinMarketCap Alexandria dives into different types of fees you can encounter when trading crypto, including maker and taker fees, funding fees, network and gas fees, and withdrawal fees. [Read More]( Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2023 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States