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Daily Crypto News Feb 10, 2022: Top 3 crypto updates for today

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After India made its stand for cryptos a little clear, nations across the globe have started to accelerate their stance on crypto. Not long back it was Colombia that made its stance clear and now Russia has decided to recognize crypto as a currency. This crypto news is indeed great news for the global crypto community. 

While the global crypto community is making hay because of all the laws being passed in favor of crypto, the NFT community is a little furious about the delisting of CryptoPunks V1 done by OpenSea. This move comes as a controversial move after things heat up between CryptoPunks V1 and V2. More on this crypto news below. 

All the soccer fans will really love this crypto news as two legendary football players, Gary Neville and Paul Scholes, have joined hands with two Singaporean billionaires, to launch their own Sports DAO which shall provide sports ownership to the masses. Read more about this news below. 

 

Quick Crypto News Roundup!

Daily Crypto News  Feb 10, 2022

Russia to recognize crypto as a form of currency 

According to the local newspapers of Russia, the nation is all set to recognize Crypto as a currency. According to the report published by a Russian newspaper named Kommersant, the Government and the Bank of Russia have reached an agreement on the way to regulate cryptocurrencies. A draft law is also being prepared which is believed to be ready by February 18 and that shall define crypto not as a digital financial asset but as an analog of currencies. 

The report also mentioned that the use of crypto will only be possible in the legal sector requiring full identification via the banking mechanism or through licensed intermediaries. 

Read A complete guide on Crypto Tax 2022

Source: The Block 

CryptoPunks V1 delisted from OpenSea after the legal battle heats up

The world’s largest NFT marketplace, OpenSea has delisted CryptoPunks V1 due to a legal dispute with Larva Labs. The 10K collectibles that are very much similar to the renowned NFT CryptoPunks are based on the same smart contract as that of the Larva Labs’collection.  As more and more collectors were flocking to V1 CryptoPunks, the project was blacklisted by Larva Labs. In a controversial move, OpenSea also delisted the entire collection making the entire community furious. 

It was taken down due to the ongoing conflict between CryptoPunks V1 and V2. Although some clarity is still required whether CryptoPunks V1 are what they promise to be, a few members of the NFT community already seems to have made their choice. The validity of CryptoPunks V1 has always been questioned alongside the other and more popular CryptoPunks V2 collection. Wondering how to assess the value of an NFT? 

Read How to assess the value of an NFT in detail. 

Source: Bitcoinist 

Manchester United “1992 Legends” to create sports DAO

After business saw the potential of NFTs and decentralized autonomous organization (DAO), it would be happy news for many soccer as well as crypto fans that Two former Manchester United football stars have joined hands with two Singaporean billionaires to launch a sports-focused DAO. According to the available information, the DAO named CO92 DAO shall bring sports ownership to the larger community and thus allowing them to invest with the ex-footballers. 

The CO92 DAO name represents the 1992 squad of manchester United. The purpose of this DAO would be to provide strategic investments to soccer-related firms and projects. 

Read: Top 10 most expensive NFTs till date (Updated 2022). 

Source: CryptoSlate 

Crypto Market Trend February 10, 2022

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by February 10, 2022)  Change in % 
Flow (FLOW) ₹627.49 10.70%
Elrond eGold (EGLD) ₹14715.95 8.46%
Harmony (ONE) ₹18 8.62%

*All prices are latest by 11:30 AM February 10, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by February 10,  2022)  Change in % 
ZCash (ZEC) ₹9922.51 3.63%
Chromia (CHR) ₹49.17 2.75%
STP Network ₹7.94 2.51%

*All prices are latest by 11:30 AM February 10, 2022.*

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