Top Cryptocurrency News Today: The biggest moves in NFTs, bitcoin, crypto rules and more

In rupee terms, bitcoin dipped 0.41 percent to trade at Rs 31,7,4,451, while ethereum rose 1.1 percent to Rs 2,17,506.4 in the last 24 hours. Cardano was down 1.37 percent at Rs 64.83 and avalanche rose 3.53 percent to Rs 6,144.5. Polkadot was down 2.67 percent to Rs 1,445.51 and litecoin tumbled 0.55 percent to Rs 8,480.52 in the last 24 hours. Tether jumped 0.78 percent to Rs 78.49. Read more here.

ConsenSys CEO and ethereum co-founder Joe Lubin is confident that the next era of ethereum will arrive within the next few months. He said the next step will transition the current ethereum mainnet (let's call that Ethereum 1.0) to a sort of ghost network currently operating in parallel (technically called the Beacon Chain, it will evolve into Ethereum 2.0). Beacon Chain isn't executing real transactions right now but is instead creating a home for validators (computers that validate crypto transactions) to lock up their hard-earned ethereums. It’s laying the groundwork for ethereum’s shift from verifying transactions using proof-of-work (PoW) to proof-of-stake (PoS). Read more here.

As Russia’s invasion of Ukraine continues, US senator Elizabeth Warren has proposed a new bill that would enhance and expand enforcement of sanctions against the country, its entities, and individuals, specifically when it comes to the use of cryptocurrency. The Digital Asset Sanctions Compliance Enhancement Act of 2022 was introduced by the Massachusetts senator during a Senate Banking Committee hearing. The bill sharpens the ability for President Joe Biden and the U.S. government to act against exchanges that transact with Russian addresses, among other provisions. Read here.

Three Coinbase users are accusing the company of selling unlicensed securities and are seeking at least $5 million on behalf of themselves and everyone else who purchased Dogecoin, solana, cardano, or more than 70 other tokens on the platform. The users claim that since Coinbase is allegedly selling securities (also known as investment contracts) the company should have registered with the SEC as a national securities exchange—a designation typically reserved for stock exchanges and one that would subject Coinbase to a raft of regulatory and reporting obligations. Read more here.