Top Cryptocurrency News Today: The biggest moves in Bitcoin, NFTs, DeFi and more

Major cryptocurrencies were trading flat early on June 24 as the global crypto market-cap increased 3.70 percent to $933.84 billion over the last 24 hours. On the other hand, the total crypto market volume declined 9.04 percent to $60.76 billion during the period. The total volume in DeFi stood at $5.39 billion, 9.21 percent of the total crypto market's 24-hour volume. Read more here.

The officers committee on GST has suggested the GST Council to defer a decision on taxability of cryptocurrency and other virtual digital assets. The Fitment Committee in its report to the GST Council has suggested that a law on regulation of cryptocurrency is awaited and it would be essential to identify all relevant supplies associated with the crypto-ecosystem, besides classification on whether they are goods or services. Read more here.

Scott Chipolina in London Crypto networks that pledged to put users in control have put themselves in charge as they try to survive the deepening crisis gripping the digital asset market. In the past week, three decentralised finance groups have stepped in with emergency plans to protect their projects and users from economic pain in the face of tumbling cryptocurrency prices. The three platforms — Maker DAO, Bancor and Solend — are not household names. Read here.

Wire Network has launched an interoperability protocol that gives users access to a universal, readable wallet address to send and receive non-fungible tokens as well as perform cryptocurrency swaps across any blockchain. The Universal Polymorphic Address Protocol (UPAP) is a blockchain technology that leads a line-up of innovations focused on usability, gaming, scalability, and security for cryptocurrencies and decentralised applications (dapps). Read more here.