The UK Law Commission plans to provide legal protection to digital assets, allowing people, groups and companies to interact online and benefit from crypto transactions.
"Digital assets such as NFTs and other crypto-tokens have evolved and proliferated at great speed, so it's vital that our laws are adaptable enough to be able to accommodate them," said Sarah Green, the Law Commissioner for Commercial and Common Law, in a statement.
In other news, the US Federal Trade Commission filed a suit against Facebook parent Meta Platforms Inc to halt the acquisition of Whithin, the developer of fitness app Supernatural.
“Meta would be one step closer to its ultimate goal of owning the entire ‘metaverse,’ the FTC filing alleges.
All the big guns in Silicon Valley are now pitting against each other to build their metaverse.
Meta makes Quest 2 headset and is now the biggest player in the virtual reality space.
Nikhil Shanbhag, Meta VP wrote in a blog, “The idea that this acquisition would lead to anticompetitive outcomes in a dynamic space with as much entry and growth as online and connected fitness is simply not credible.”
Cryptocurrency Prices
The global crypto market capitalisation went up by 7.68 per cent to $1.05 trillion as of 4:50 pm. However, the global crypto volume was up by 52.80 per cent to $95.87 billion, according to Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $23,029, up by 8.15 per cent in the last 24 hours. Ethereum (ETH) was up by 11.40 per cent to $1,625.65.
Among other significant coins, Cardano (ADA) was up by 7.45per cent at $0.50005, Algorand (ALGO) was trading with a gain of 6.14 per cent at $0.3286, Solana (SOL) was trading with a loss of 9.45 per cent at $40.03, Polkadot (DOT) was up by 13.02 per cent at $7.64 and Binance Coin (BNB) was up by 6.20 per cent at $268.51.
Today’s top gainer was Lida DAO, which was up by 35.09per cent at $2.06.
Meme Coin And DeFi Prices
Dogecoin (DOGE) was up by 6.91 per cent at $0.06679. Rival Shiba Inu (SHIB) was up by 6.55 per cent at $0.00001139.
Dogelon Mars (ELON) lost 9.14 per cent to trade at $0.0000003522, Floki Inu (FLOKI) gained 9.85 per cent at $0.00001103, and Samoyed Coin (SAMO) gained 10.85 per cent at $0.01085.
