Tether briefly dropped to $0.993 although it quickly regained parity with the dollar. But investors continue to pull money out of stablecoins and several have lost their pegs to underlying assets.

The Bank for International Settlements said recent turmoil in the cryptocurrency universe is a reminder of crypto's financial vulnerabilities and "deeper structural inadequacies".

Prosecutors in South Korea have imposed a travel embargo on the TerraUSD developers to stop them leaving the country while inquiries are conducted into the huge crypto collapse last month

The use of high-yield leveraged products worsened the rout in the $247 billion decentralised finance industry over the weekend, Binance chief Changpeng Zhao said

The crypto lender said it carried out an emergency assessment of its business operations to determine the company's liquidity status.

The tax will be levied on the difference between the cost of the acquisition of the asset and the transfer price to the employee, the report said

The crypto sector was fearful on Monday as investors worried that contagion from problems linked to several large crypto players may lead to a major shakeout if not contained.

The biggest cryptocurrency is down about 32% over the past month and almost 60% this year

Keith Johnson accused Musk, electric car company Tesla and SpaceX of racketeering by touting Dogecoin and driving up its price

While Coinbase is shrinking its global workforce by 18%, a company spokesperson told TechCrunch only 8% of India staff would be laid off

Affluent investors in Asia allocate an average of 7% of their portfolio to digital assets — more than foreign exchange, commodities or collectibles, the Accenture report said

Eddy Chan, founding partner at Intudo, told Decrypt he is bullish on Pintu and Indonesia’s crypto economy despite the global market downturn