White House & G7 Announce Crypto-Specific Sanctions Guidance – March 11

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$38,810

Bitcoin price is currently sitting just slightly below the $39,000 mark Friday, failing to breach the $40,000 mark earlier this morning.

Top-20 altcoins look relatively stable, as Ethereum falls 1%, BNB gains 1% and Polkadot leads with a 3% gain.

Top Stories for March 11, 2022 🔥

👉 White House & G7 Announce Crypto-Specific Sanctions Guidance

The White House and G7 countries have announced new sanctions against Russia, this time with crypto-specific guidance on the way.

The new guidance appears to be aimed at reiterating that all types of transactions are prohibited, including those in crypto. Cryptocurrency companies are at the center of focus.

US and European officials continue to identify cryptocurrencies as a potential tool for the evasion of financial restrictions, albeit acknowledging that it is a very small likelihood.

👉 Polygon Network Temporarily Fixed Following 8-Hour Downtime 

The popular Polygon blockchain network is back up and running via a temporary solution, following a significant eight-hour outage overnight.

The outage was triggered by a technical upgrade on the block-production layer, which malfunctioned. The temporary fix will enable the network to function until a permanent fix is actioned by validators over the next two days.

👉 Bored Ape Yacht Club & Animoca Brands Introduce KYC Rules

Famous NFT project, Bored Ape Yacht Club (BAYC) and Animoca Brands have implemented know-your-customer (KYC) rules for new buyers – requiring them to enter detailed personal information to participate.

The move is part of increased regulatory scrutiny across the the NFT industry, which until now has roamed relatively free compared to centralized crypto markets.