Cryptocurrency prices were trading lower today with Bitcoin declining over 3% to $33,275.4, data by CoinDesk showed. Ether, the coin linked to the ethereum blockchain network, was down 3% to $$2,262. Dogecoin also slipped as it was trading around $22, down 5%. Other virtual tokens like XRP, Litecoin, Cardano, Uniswap also fell more than 2% over the last 24 hours.
EU documents showed on Wednesday showed that the European Union will propose a new authority to crack down on money laundering and new transparency requirements for transfers of crypto-assets, as reported by Reuters.
A separate proposal would introduce new EU requirements for service providers in crypto-assets to collect and make accessible data concerning the originators and beneficiaries of transfers in those assets.
Separately, a report by Kraken Intelligence showed that price performance of the cryptocurrencies may have been lackluster over the past month, but some of the industry developments have lifted animal spirits, and optimism may be gradually returning to the crypto market after May’s crash from all-time highs.
The report highlighted that last month was the third most volatile June when looking as far back as 2011, second to 2019 (100%) and 2011 (278%), and was 10 percentage points more volatile than usual.
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