Cryptocurrency prices were lower on Tuesday morning as the war in Ukraine escalated and peace talks stalled.
Bitcoin was trading at around $38,420, down 1.72%, while Ethereum and Dogecoin were also down, trading at around $2,520 (-2.87%) and 11.13 cents ( -3.12%), respectively, according to Coindesk.
An Austin, Texas City Council member announced a resolution on Thursday that would explore possible uses for Bitcoin and other cryptocurrencies in the city.
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The resolution, by Austin City Councilman Mackenzie Kelly (District 6), preceded South by Southwest’s return to the city after two years of the COVID-19 pandemic.
Councilman Kelly spoke alongside Austin Mayor Steve Adler and other tech entrepreneurs at a Web3 and Blockchain Ecosystem press conference.
In other cryptocurrency news, the landmark European Union (EU) regulatory framework for the governance of crypto assets has crossed another threshold on the way to ratification, Coindesk reported.
On Monday, the European Parliament’s Economic and Monetary Affairs Committee voted 31 to 4 in favor of a new draft Framework for Crypto Asset Markets (MiCA), with 23 abstentions.
The framework broadly covers the issuance and trading of cryptocurrencies and promises to facilitate the expansion of crypto businesses in the 27 EU member states by facilitating a “passportable” license that would be valid between countries, according to the report.
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“Finally, the agreed text includes measures against market manipulation and to prevent money laundering, terrorist financing and other criminal activities,” an official statement said during Monday’s vote.