The cryptocurrency market remained lower on Sunday with its capitalization declining 1.4 percent to $1.8 trillion. As of 1:10 p.m. GMT, the price of the largest cryptocurrency Bitcoin (BTC) fell 1.88 percent to hit $38,473. With this decline in price, the market capitalization of the largest crypto has reached $728.5 billion. Bitcoin has lost 2.3 percent over the last seven days.
Ether, the world's second-largest cryptocurrency by market capitalization, fell 1.98 percent to hit $2,539. With this price decline, the market capitalization of ETH has reached $298.8 billion. Ether has lost 4.6 percent of its value in the last seven days. Similarly, the price of XRP decreased by 1.10 percent to reach $0.780. The market capitalization of XRP stands at $78 billion with this decline. XRP has gained 3.6 percent over the past seven days. On the other hand, the price of Cardano (ADA) was down 0.32 percent to hit $0.793. Its market capitalization has reached $26.1 billion with this decline. ADA lost 8.5 percent in the last seven days.
However, the price of Dogecoin (DOGE) was down 2.95 percent to hit $0.113. With this decrease in price, DOGE's market capitalization reached $15 billion. DOGE has lost 9.8 percent over the last seven days. Meanwhile, Estonia is preparing to enforce a set of new anti-money laundering rules that will toughen requirements for cryptocurrency companies operating under an Estonian license. The changes come amid concerns that Russia may use crypto to evade Western sanctions and an ongoing audit of the Baltic nation's AML policies. Estonia, whose banking sector has in the past been implicated in processing billions for suspicious Russian clients, is now taking steps to close loopholes that could allow Russia, its elites and its ally Belarus to evade sanctions imposed for the invasion. from Ukraine. The country's amended Money Laundering and Terrorist Financing Prevention Law, which introduces strict standards, will take effect on Tuesday. Crypto companies will bear the brunt of Estonia's war on dirty money. The update will make Estonia's regulatory regime for platforms dealing with digital assets even stricter than the upcoming EU rules. The framework adopted in 2017 was considered too flexible, as it allowed hundreds of companies, many of them based elsewhere, to obtain licenses from Estonia.
