With the Union Budget around the corner, industry watchers expect some announcement regarding the digital rupee.
"After a rough year last year for cryptos, we are seeing a form of mean reversion," said Jake Gordon, analyst at Bespoke Investment Group, referring to the theory of asset prices returning to long-term averages.
The announcement comes after Coinbase Global Inc said on Tuesday it would cut about 950 jobs, or 20% of its workforce, as part of a restructuring plan.
The joint statement by US regulators, the first of its kind, also termed contagion risk within the crypto-asset sector, which may result from interconnections among certain crypto-asset participants as one of the concerns.
The lawsuit is the latest legal effort to lay claim to the dwindling assets of FTX, which is already feuding with liquidators in the Bahamas and Antigua as well as the bankruptcy estate of Blockfi, another failed crypto company.
The government informed the parliament that there are no proposals for a common blockchain-backed platform for banks in India.
"We're warning investors to be very wary of some of the claims that are being made by crypto companies," said Paul Munter, SEC's acting chief accountant in an interview with the Wall Street Journal.
The revelation that two of Sam Bankman-Fried's closest former associates had decided to cooperate with the government significantly ramped up pressure on the former billionaire.
Core Scientific Inc will file for bankruptcy protection in Texas early on Wednesday morning but will not liquidate, the report published late on Tuesday said, adding that it will continue to operate normally.
Reserve Bank of India governor Shaktikanta Das also added that cryptocurrencies have no underlying value.
US prosecutors say former FTX Chief Executive Officer Sam Bankman-Fried engaged in a scheme to defraud FTX's customers by misappropriating their deposits to pay for expenses and debts.
"Things seem to have stabilised," CEO Changpeng Zhao wrote in a tweet. "Yesterday was not the highest withdrawals we processed, not even top 5."
Central Bank Digital Currency pilot in the retail segment has components backed by blockchain technology and has several common features with physical cash, Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday.
The G20 Finance Track, which is led by the central bank governors and finance ministers of G20 nations, focuses on economic and financial issues.