Bitcoin and Ether reached their highest levels in more than two months after a major Ethereum upgrade and even in the face of uncertainty over crypto rules in the U.S. infrastructure plan.
Read more about ED slaps FEMA notice against India s largest crypto exchange WazirX on Business Standard. The show cause notice is for transactions worth Rs 2,790.74 crore, the ED said.
Read more about Jack Dorsey plans a hardware Bitcoin wallet for customers of Square on Business Standard. Bitcoin is currently on a tumultuous ride thanks to Tesla CEO Elon Musk.
Virtual currencies have swung wildly in recent days after billionaire Elon Musk criticized Bitcoins energy consumption and said Tesla Inc. was suspending payments using the token.
Cryptocurrencies fought back on Monday, clawing back ground after a bout of weekend selling fuelled by further signs of a gathering Chinese crackdown on the emerging sector.
Bitcoin climbed as high as $37,391 after falling some 7.5% a day earlier, and was last up 5%. Second-largest cryptocurrency ether jumped more than 10% to as high as $2,321, erasing losses of 8.6% on Sunday that pushed it to near a two-month low around $1,730. The catalyst for the slump was cryptocurrency miners , who mint cryptocurrencies by using powerful computers to solve complex maths puzzles, halting Chinese operations in the face of increasing scrutiny from authorities. The attention on Chinese miners - who account for some 70% of supply - is the latest front in a wider push by Beijing against the cryptocurrency sector.