The cryptocurrency industry was on track to hit a new record for federal lobbying spending, after a year in which firms scrambled to repair their reputations and advance friendly legislation, according to data provided to Reuters by nonprofit research group OpenSecrets.

International banks are excited to use the metaverse technology to provide in-office training in an immersive virtual reality ecosystem. Along with JP Morgan, Citi Bank is also running a virtual reality internship experience. This lets the trainers provide feedback in real time.

Aiming to ensure that the crypto sector was safe to engage with, Indian authorities had asked all operating crypto firms to register with them. Unocoin, Giottus, Zebpay, Mudrex, Buyucoin, Rario, and Bitbns are among the 28 crypto firms that have registered their operations with the Indian Financial Intelligence Unit (FIU).

The overall crypto market valuation rose by 0.99 percent in the last 24 hours. While BTC value reached $41,738 (roughly Rs. 34.8 lakh), ETH is trading at $2,228 (roughly Rs. 1.85 lakh) on Tuesday, December 5.

On the order of the UK Parliamentary Committee and the House of Commons, the Bank of England and the UK Treasury have analysed the benefits that could entail the launch of this CBDC. As part of the assessment, the Bank of England said CBDCs could reduce higher payment costs faced by smaller merchants among other findings.

Bitcoin has experienced a substantial surge that represents a year-to-date peak for Bitcoin, boasting a remarkable 140 percent rise since the beginning of the year. The crypto asset, as of December 4, is trading at the crucial mark of $40,000 (roughly Rs. 33.7 lakh). This is the first time in 19 months that BTC has managed to breach this price mark.

The overall crypto market cap rose by 2.76 percent in the last 24 hours. Bitcoin on Monday, December 4 reached $40,578 (roughly Rs. 33.7 lakh), its highest price for the year of 2023. Meanwhile, the value of ETH stood at $2,214 (roughly Rs. 1.84 lakh). Market analysts have suggested investors and traders to be cautious when trying to book profits.

The UNDP is a branch of the UN that is focussed on helping poverty-ridden parts of the world is now getting ready to train its staff members across the world on blockchain and Web3. To do so, the UNDP has partnered with the Algorand Foundation, a non-profit body that supports the eco-friendly green blockchain Algorand.

The overall crypto market cap rose by 1.05 percent in the last 24 hours. Both BTC and ETH on Friday, December 1 managed to see small gains. Solana, Dogecoin, and Tron are among other cryptocurrencies that minted profits alongside BTC and ETH.

The WEF has named South Korea’s Seoul, UAE’ Dubai, and the US’ Santa Monica as the leading cities of the international metaverse sector. Listing the benefits of cities exploring the metaverse, WEF said this virtual world ecosystem brings along cost savings related to the design, operation, and maintenance of urban infrastructure.