The cryptocurrency market stays active over the past week with new announcements and bullish news

Bitcoin price continued its consolidation phase below $ 35,000 this week, but price aside, the crypto market remains quite active with new announcements and bullish news.

The new partnership between the giant NCR and a crypto custody company has enabled 650 US banks to offer Bitcoin to their 24 million customers. The week wasn’t good for the world’s largest exchange – Binance, as it faces regulatory opposition from 5 countries as its competitor Coinbase continues to make great legal strides in management and international expansion. India has seen a surge in crypto investments this year despite regulatory issues.

Cryptocurrency market still active – 650 US banks offer Bitcoin services to their 24 million customers

US payment giant NCR and digital asset management company NYDIG have teamed up to enable around 24 million customers of 650 US banks to buy and sell Bitcoin (BTC) through online exchanges. The decision was made in response to growing customer demand and will give 24 million users access to bitcoin and cryptocurrencies.

A spokesman for NCR announced that its banking partners have announced that customers are buying cryptocurrencies from third-party exchanges, forcing them to offer direct services. NYDIG will act as custodian in this partnership.

The crypto market is still pretty active- Binance faces the legislation of 5 countries

Binance, the world’s largest exchange, faced regulatory and compliance alerts in less than a week from the Cayman Islands Monetary Authority, UK FCA, Japan’s FSA, Thai SEC and regulators. Many regulators have raised concerns that Binance does not have a physical headquarters. However, the crypto exchange claims that its decentralized nature is the reason for this.

Regulatory warnings vary from country to country, with the strictest coming from the Thai SEC, which has launched a criminal investigation into the exchange.

The crypto market is still pretty active- Coinbase grants Germany’s first crypto custody license

Coinbase Inc., the Nasdaq-listed crypto exchange, was the first crypto exchange to receive BaFin approval for a license to store digital assets in Germany. Binance’s competitor has tried to expand its international reach and has been approved by the Japanese FSA to enter the Japanese crypto market.

Yesterday the exchange announced the expansion of its international institutional payment services by offering new trading pairs and introducing Fiat.

The crypto market is still pretty active- India’s crypto investments grow from $ 200 million to $ 40 billion in a year

In India, where households own more than 25,000 tons of gold, crypto investments rose from around $ 200 million to nearly $ 40 billion last year, according to Chainalysis. This is despite open hostility towards the asset class from the central bank and a proposed trade ban.

One of the biggest hurdles preventing broader adoption of cryptocurrencies is regulatory uncertainty. Last year, the Supreme Court overturned a 2018 ordinance that banned cryptocurrency trading by banking institutions, which led to an increase in trading.

However, the authorities are showing no signs of accepting cryptocurrencies. The country’s central bank said it was “very interested” in the asset class, and six months ago the Indian government proposed a ban on digital forex trading – although it has been silent on the issue since then.

The Indian tax authority is also planning to impose an additional GST of 18% on foreign exchange providing its services in India.

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