Top Cryptocurrency News on March 27: The biggest moves in cryptos, policy and more

Bitcoin’s dominance is currently 42.01 percent, a decrease of 0.28 percent over the day. The world’s largest cryptocurrency traded at $44,689.50 levels in early deals on March 27. In rupee terms, Bitcoin was trading flat at Rs 34,44,056 while Ethereum advanced 0.7 percent to Rs 2,43,312.5. Read more here.

Government has said that law enforcement agencies have received reports of cyber criminals using cryptocurrency for money laundering activities. Minister of state for finance Pankaj Chaudhary recently informed Lok Sabha that the Enforcement Directorate (ED) is investigating seven cases under the Prevention of Money Laundering Act 2002 (PMLA) in which cryptocurrency has been used for money laundering. “Cases investigated by ED under the Act reveal that (the) accused have laundered proceeds of crime through cryptocurrency,” the minister said in response to a question on whether the government is aware of the use of cryptocurrency for money laundering by cyber criminals. Read details here.

A Brazilian company that owns 410 square kilometres (158 square miles) of Amazon rainforest is offering a new way to fund conservation: selling non-fungible tokens (NFTs) that allow buyers to sponsor the preservation of specific areas of jungle. NFTs are a kind of crypto asset that exploded in popularity in 2021, with a unique digital signature guaranteeing they are one of a kind. Other efforts to fund conservation via NFTs include plans for a South African wildlife reserve. Read more here.

Ukraine started auctioning off a collection of non-fungible tokens (NFTs) on Friday in an expansion of a cryptocurrency fundraising push that Kyiv says has already collected more than $65 million for its war effort. The 'Meta History: Museum of War' collection is a series of digital images -- including silhouettes of warplanes, screengrabs of news reports and a cartoon-style image of an explosion -- each one marking a different day in the conflict. Full story here.