The massive stories in the cryptocurrency industry during the first weeks of January were massive, and have dictated the trajectory of coins this year, with Tech Times' CryptoWatch offering a summary of what made the headlines. First, there is Venezuela's controversial shutdown of the renowned Petro cryptocurrency, best known as a creation of President Nicolรกs Maduro.
(Photo: Technological Times)
Additionally, there is the massive crackdown on Apple's App Store in India, where it removed the major crypto apps and platforms present, along with the current prices of major coins.
Venezuela closes the petro cryptocurrency, but why?
The South American country of Venezuela has decided close the famous cryptocurrency businessIt is known as Petro and it is known that it is President Maduro's project launched six years ago. One of the main reasons the country shut it down is because it did not grow as much as the nation's government had anticipated, and it also came under massive scrutiny behind it.
AFP reported that the Petro cryptocurrency project was also involved in a scandalous corruption issue. In addition, it was used by Venezuela to avoid the economic sanctions imposed by the United States against the country.
The Patria Platform announced that crypto wallets were already closed in mid-January, best known for being the only place where it was traded.
Apple's operations in India, particularly in its App Store, experienced a great success for renowned cryptocurrency platforms this January, focusing on top apps like Binance, Kraken, and more. It also includes companies such as Mexc and Kucoin that were subject to said elimination, as indicated by the country for carrying out "illegal operations" within their jurisdictions.
India's Financial Intelligence Unit (FIU) issued show cause notices to nine crypto companies that alleged non-compliance with its anti-money laundering rules, according to Technological crisis.
Huobi, Gate.io, Bittrex, Bitfinex and Bitstamp complete the list, but Bitstamp is still available on the Indian App Store. It is similar to Binance's lawsuit in the US, focused on its failure to comply with its anti-money laundering policies.
Prices of the main cryptocurrency now
Currently there are different prices for the main currencies on the market, as detailed in CoinMarketCap Charts, Bitcoin saw a slight drop while Ethereum increased compared to its previous figures but still saw a decrease in its percentage. However, the coin prices remain stable and not much has changed, apart from those below the top three.
bitcoin (BTC) - Price: $41,620.73 | Decrease of 1.47 percent in the last seven days
Ethereum (ETH) - Price: $2,460.03 | Decrease of 1.34 percent in the last seven days
Tie (USDt) - Price: $0.9993 | Decrease of 0.04 percent in the last seven days
binance coin (BNB) - Price: $319.50 | Increase of 5.36 percent in the last seven days.
solarium (SUN) - Price: $91.38 | Decrease of 4.39 percent in the last seven days
