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Cryptocurrencies traded in the green early on August 14. The global crypto market cap stood at $1.18 trillion, a 0.73 percent increase over yesterday. The total crypto market volume over the last 24 hours reached $56.85 billion, down 13.01 percent.
The total volume in DeFi stood at $5.09 billion, 8.96 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $52.02 billion, which is 91.50 percent of the total crypto market 24-hour volume.
The price of Bitcoin is currently Rs 18.55 lakh, with a dominance of 39.88 percent. This was a 0.29 percent decrease over the day, according to data from CoinMarketCap.
In global news, Dutch authorities on Friday said they had arrested a 29-year-old man believed to be a developer for the crypto mixing service Tornado Cash, which the United States put on its sanctions list this week, Reuters reported.
The US sanctions announced on Monday followed allegations that Tornado Cash was helping conceal billions in capital flows, including for North Korean hackers. By mixing cryptocurrencies, the online service makes it possible to conceal the origin or destination of digital payments, increasing their anonymity.
Tornado Cash is one of the largest crypto blenders identified as problematic by the US Treasury.
In India, crypto lending platform Vauld has come out with a statement to disagree with the Enforcement Directorate perspective on its KYC and AML procedures and the subsequent freeze on its bank assets.
“It is unfortunate that despite extending our cooperation, the Enforcement Directorate (ED) has proceeded to pass a freezing order, pursuant to which crypto assets in the pool wallets of the company have ordered to been frozen to the extent of approximately Rs 2,040 million. The freezing order is specific to that one customer that availed our services for a brief period of time, whose account we subsequently deactivated. We respectfully disagree with the freezing order,” Vauld said in the statement.
The ED conducted searches at various premises of Yellow Tune Technologies at Bangalore, and the assets frozen belongs to Flipvolt Crypto-currency exchange, which runs Vauld. This came exactly a week after WazirX’s bank assets worth Rs 64.67 crore were halted in a similar same case.
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