Bitcoin was trading down 3.3% on Tuesday morning.
The price was around $ 43,260 per coin, while rivals Ethereum and Dogecoin were trading at around $ 3,071 (-1.59%) and 21 cents (-3.43%) per coin, respectively, according to Coindesk.
Cardano (+ 0.64%) was the only major cryptocurrency trade in positive territory, with each coin valued at $ 2.14, according to the report.
AMC WILL ACCEPT LITECOIN, ETHEREUM, WITH BITCOIN, FOR ONLINE MOVIE TICKET PURCHASES, DEALERSHIP
Robinhood Markets Inc. is testing new crypto wallet and cryptocurrency transfer features for its app allowing clients to send and receive digital currencies such as bitcoin, a Reuters report quoted Bloomberg News on Monday.
A beta of its iPhone app showed the company’s work on these features, according to the report.
There was also a hidden image showing a waitlist page for users signing up for a crypto wallet feature, the report added.
In other cryptocurrency news, a seemingly esoteric legal battle involving the Securities and Exchange Commission and fintech startup Ripple Labs could clarify the SEC’s authority to regulate the $ 2.2 trillion crypto market. dollars.
In December 2020, the SEC filed a complaint alleging that Ripple Labs, a global payments platform, had violated securities laws by not registering its XRP cryptocurrency as security.
At the time, Ripple was using XRP as a vehicle to fund its core business of transparent cross-border transactions for financial institutions, the SEC accused, which it had been doing for seven years since its inception in 2013.
CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS
The lawsuit not only took Ripple by surprise, but added even more confusion over whether cryptocurrencies should be viewed as securities, commodities, or something else. If cryptos are securities, as defined by case law, they must be approved and regulated by the SEC which requires various corporate disclosures.
Ripple believes XRP is not security, so it doesn’t need the go-ahead from the SEC. Additionally, it states that the SEC currently allows other cryptocurrencies like Bitcoin and Ethereum to be traded as commodities; the blockchain networks of these cryptocurrencies are not required to register as security.