Bitcoin's freefall following Russia's invasion of Ukraine halted just below $35,000 during the early hours of Thursday morning. By mid-afternoon, BTC had regained its previous perch above $38,000. amitoj and JPRubin23 report
As air raid sirens blared in Ukraine’s capital, India was focusing on evacuating its students from Ukraine. But its crypto-sphere was busy with new advertising guidelines, ongoing discussions between government and industry about taxation, news on why India’s crypto regulation may have been delayed and a day-long conference about non-fungible tokens .India’s advertising guidelines were highly anticipated because the government had sought to stop misleading ads on cryptocurrencies.
“We have not said don’t make crypto adverts, just communicate the risks as much as the good about the product,” said Manisha Kapoor, the secretary general of the Advertising Council of India in a radio interview onFormal and informal discussions between India’s crypto industry and the government are ongoing. CoinDesk has learned that after exchange companies met senior officials at a hush-hush gathering at the Indian Finance MinistryOn Feb.
Meanwhile, Michael Patra, the deputy governor of the Reserve Bank of India, has said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets, according to the Press Trust of India, the country’s largest news agency.NFTs had their moment in the spotlight on Thursday.
Public interest in the phenomenon has been rising steadily in India as it has elsewhere. The conference addressed this growth and potential opportunities.Bitcoin extended losses early in the New York trading day and broke below intraday support at $36,500. At press time, the cryptocurrency appears to be stabilizing above $38,000. Resistance is nearby at $40,000, and stronger support is seen at $30,000.