Daily Times

The cryptocurrency market remained on the downward slide on Sunday and its capitalisation decreased by 1.4 percent to $1.8 trillion. As of 1310 hours GMT, the largest cryptocurrency Bitcoin’s (BTC) price slipped by 1.88 percent to reach $38,473. With this decrease in price, the market capitalisation of the biggest crypto has reached $728.5 billion. Bitcoin has shed 2.3 percent during the last seven days.

Ether, the world’s second-largest cryptocurrency by market capitalisation, dipped by 1.98 percent to reach $2,539. With this decrease in price, the market capitalisation of ETH has reached $298.8 billion. Ether has shed 4.6 percent of its value over the last seven days. Similarly, XRP price decreased by 1.10 percent to reach $0.780. The market capitalisation of XRP stands at $78 billion with this decrease. XRP has gained 3.6 percent during the last seven days. On the other hand, Cardano (ADA) price inched down by 0.32 percent to reach $0.793. Its market capitalisation has reached $26.1 billion with this decrease. ADA shed 8.5 percent in the past seven days.

However, Dogecoin (DOGE) price shed 2.95 percent to reach $0.113. With this decrease in price, the market capitalisation of DOGE has reached $15 billion. DOGE has lost 9.8 percent during the last seven days. Meanwhile, Estonia is preparing to enforce a set of new anti-money laundering rules that will stiffen requirements for crypto companies operating under Estonian licence. 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 the processing of billions for suspicious Russian clients, is now taking steps to close the loopholes that could allow Russia, its elites, and allied Belarus to evade sanctions imposed over the invasion of Ukraine. On Tuesday, the country’s amended Money Laundering and Terrorist Financing Prevention Act will enter into force, introducing stringent standards. Crypto companies are going to bear the brunt of Estonia’s war against dirty money. The update will make the Estonian regulatory regime for platforms operating with digital assets even stricter than the upcoming EU rules. The framework adopted in 2017 was considered too loose as it allowed hundreds of businesses, many based elsewhere, to obtain licensing from Estonia.