The crypto market continued sliding down on Sunday with India and South Africa preparing for regulation of the market, and the total market capitalisation decreased to $1.57 trillion from $1.59 trillion a day earlier as of 13:00 GMT. The price of bitcoin (BTC), the largest cryptocurrency, shed 0.32 percent to reach $35,885. With this decrease in price, the market capitalisation of the BTC has reached $672 billion. Likewise, ethereum (ETH) price decreased by 3.25 percent to reach $2,359. With this decrease in price, the market capitalisation of ETH has reached $274 billion. Similarly, XRP shed 0.30 percent to reach $0.832. The market capitalisation of XRP stands at $83 billion after this decrease. On the other hand, Cardano (ADA) price reached $1.42 with a 3.33 percent decrease in its price. Its market capitalisation has reached $45.6 billion with this decrease. Similarly, dogecoin (Doge) shed 1.57 percent to reach $0.309. With this decrease in price, the market capitalisation of Doge reached $40.1 billion. Meanwhile, India may be regulating crypto as an asset class under the purview of the Securities and Exchange Board of India (SEBI). In addition, a crypto bill is likely to be introduced during the Monsoon session of parliament, local media reported. According to Indian media, the government has moved away from its earlier hostile stance towards virtual currencies and will most likely classify bitcoin as an asset class in India soon. Market regulator Securities and Exchange Board of India (SEBI) will oversee regulations for the cryptocurrency sector after bitcoin’s classification as an asset class. Likewise, South Africa’s Intergovernmental Fintech Working Group (IFWG) has released a new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged approach to bring crypto-assets within the regulatory remit through the regulation of crypto asset service providers (CASPs).”