Bitcoin, Dogecoin and Ethereum all down early Tuesday

Cryptocurrency prices were lower early Tuesday morning as the war in Ukraine has intensified and peace talks have stalled.

Bitcoin was trading at around $38,420, down 1.72%, while Ethereum and Dogecoin were also lower, trading at approximately $2,520 (-2.87%) and 11.13 cents (-3.12%), respectively, according to Coindesk.

An Austin, Texas, city council member on Thursday announced a resolution that would explore possible uses of Bitcoin and other cryptocurrencies in the city. 

AUSTIN MAY BE NEXT MAJOR CITY TO EMBRACE CRYPTOCURRENCY

The resolution, from Austin City Council Member Mackenzie Kelly (District 6), came ahead of South by Southwest’s return to the city after two years of the COVID-19 pandemic. 

Councilmember Kelly spoke alongside Austin Mayor Steve Adler and other tech entrepreneurs at a Web3 and Blockchain Ecosystem news conference.

Bitcoin prices were down early Tuesday morning. (iStock)

In other cryptocurrency news, the European Union’s (EU) landmark regulatory framework for governing crypto assets has passed another threshold on its way to ratification, Coindesk reported.

On Monday, the EU parliament’s Economic and Monetary Affairs Committee voted 31-4 in favor of a new draft of the Markets in Crypto Assets (MiCA) framework, with 23 abstentions.

The framework broadly captures the issuance and trading of cryptocurrencies, and promises to make it easier for crypto firms to expand throughout the EU’s 27 member states by facilitating a “passportable” license that would be valid between countries, the report said.

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“Finally, the agreed text includes measures against market manipulation and to prevent money laundering, terrorist financing and other criminal activities,” said an official statement on Monday’s vote.