Cryptocurrency news today: Bitcoin achieves 16% rise in a week, other cryptos are trading in red and green

Most of the cryptocurrency are trading in a mix of red and green today. Bitcoin is trading at a dominance of 44.58%.

Written by October 11, 2021 14:22
Crypto

New Delhi: Cryptocurrencies are trading in a mix of red and green on October 11. The global cryptocurrency market cap is priced at Rs 171.88 lakh crore over the last day which is an increase of 0.18%. Besides, the total crypto market volume stands at Rs 7,29,610 crores with a 0.59% increase.

Currently, Bitcoin is trading at Rs 43,37,990 with a dominance of 45.58%, resulting in an increase of 0.84% over a day.

According to the document released by the state planner, China has categorised cryptocurrency mining under the draft list of industries in which investment is restricted or prohibited. However, it reduced the number of sectors on the overall list.

Further, the “Negative List” focuses on the sectors and industries that are off-limit to both Chinese and foreign investors.

Crypto banned in China

Cryptocurrency mining and trading were banned by regulators in China in 2021 as the country’s central bank pledged to restrict “illegal” activities in cryptocurrency in September this year. The ban has allowed cryptocurrency exchanges to cut ties with Chinese users.

China has also been tightening control over public discourse, restricting show business for “polluting” society as well asking the mobile browsers to stop spreading rumours, the use of sensationalist headlines, and publication of content that overrules the core value of socialism.

The state planner stated that the investment of “non-public” capital into various publishing activities was stopped including live-broadcast,  newsgathering, editing, and broadcasting entities and the operation of news.

Bitcoin

The NDRC stated that non-public capital cannot be associated with the introduction of news that is released by overseas entities or summits and award section activities in the sector of news and public opinion.

From 123 in 2020, the draft 2021 list of industries in which investment is either restricted or prohibited has been cut down to 117, said the National Development and Reform Commission.

Besides, industries that are not on the list are open for investment with no approvals.

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