Bitcoin surged nearly 3% in the last 24 hours and is
trading above the $31,000 mark. Bitcoin broke its consolidation and revived a
bit after a long bearish trend. The recent selling pressure has eased up and
Bitcoin has topped the $31,000 mark with volume almost doubling in the last 24
hours. This shows the renewed interest in the digital asset market.

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The global cryptocurrency market cap was trading at $1.31
trillion, surging 2.67% in the last 24 hours. However, the total cryptocurrency
24 hours trading volume is $91.70 billion. After nine weeks of sharp declines,
the crypto market recovered on Monday and extended its gains on Tuesday as
well. Altcoins also reported some solid gains, with some tokens rising in
double digits. However, it will be too soon to determine if the winter in the
digital token market is over.

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Bitcoin fear and greed index on Tuesday, May 31, 2022,
went from the extreme fear level of 10 to the level of 16 as per the
alternative. me. The Fear and Greed index is a technique for assessing
investors’ emotions toward the market.    

Bitcoin is currently trading at $31,625.28, up by 3.25%.
In the last 24 hours, the highest it touched was $31,949.63 and the lowest was
$30,329.25. Bitcoin has a current market cap of $602,417,156,877. It has a
circulating supply of 19,054,231.00. BTC coins have a maximum supply of
21,000,000 coins.

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Centre ready with consultation paper on crypto, says
Economic Affairs Secretary

Inflation in India should moderate in the coming months
and the Government is almost ready with its consultation paper on
cryptocurrencies, said Economic Affairs Secretary Ajay Seth. “Our
consultation paper is fairly ready. We have gone into a deep dive into
this,” Seth told reporters on May 30 on the sidelines of an event. 

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He further said that there needs to be a global consensus
reached on cryptocurrencies and India would look at regulations enforced in
other nations before deciding how it would regulate them.

The government has refused to make public its stance on
crypto so far, with confusion remaining over their classification that whether
they are financial assets or fall in some other category, such as commodities.

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Crypto asset management platform Kassio launches India
operations

Global crypto asset management platform Kassio, which
offers investment solutions such as earn, borrow, shop and trade, launched its
India operations on May 31. In 2020, Kassio was co-founded by Sachin Singh,
Anuj Yadav and Bharat Vivek, who have over 10 years of experience in building
technology and product-based ventures and expertise in crypto solutions and
products.

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With its beta version gone live in the beginning of
April, Kassio has received over 30,000 applications on its platform. According
to the company, over 60% of these applicants have already registered and
verified on the platform and the currently using different Kassio products.