Why Russia might actually be a haven for Bitcoin
The CoinTelegraph's Russian-based correspondent got a chance to catch up with some high-ranking Russian officials at the St. Petersburg International Economic Forum to get their thoughts on Bitcoin and the prospects of cryptocurrencies in the world’s largest nation. Every summer, thousands flock to the Russia’s northern capital of Saint Petersburg to witness the famous ‘white nights.’ During this time, the city also hosts the annual conference dedicated to economic and business issues - the Saint Petersburg International Economic Forum (SPIEF). Over 5,000 political and business leaders,....
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It is impossible to stop the Bitcoin movement, that much has become evident. Excluding Bitcoin from Russia would do more harm than good in the long run. Russia has always had an unusual relationship with Bitcoin and cryptocurrency. It has been unclear how the situation will evolve for quite some time now. A new statement by the Bank of Russia hints at no further action being taken against the usage of Bitcoin. Another positive sign for Bitcoin on a global scale, although this does not mean cryptocurrency is legal in Russia all of a sudden. People have to keep in mind this statement does....
There has been a lot of talk about investors looking to Bitcoin as a safe haven for their investment portfolio. Safe haven markets are very small and hard to get into. Bitcoin may not fit that bill as perfectly as some people think it does. Now that the Brexit doom scenario has happened, there is a lot of uncertainty across the markets. Gold is surging,....
The Monero blockchain fork has surged by nearly 100% in the past five days against a rising appetite for privacy-focused cryptocurrencies. Haven Protocol (XHV) showed signs of returning to its bullish form as its price doubled in just five days of trading.What's pumping Haven Protocol?XHV's price surged by up to 107% week-to-date to climb above $3.60 on March 11, its highest level in more than three months. Interestingly, the move upside followed a period of aggressive selloffs that saw XHV's value dropping from nearly $20 in November 2021 to as low as $1.60 in early February 2022 — an....
In the article "Why The Bitcoin Price Drop Is Really Good News" I mentioned the upcoming issues on the horizon for the U. S. Dollar. Many nations are trading internationally without it now, and these "bilateral trade agreements" are on the rise. Growing global disinterest in the dollar will only increase the need for monetary alternatives that can be easily sent globally, like Bitcoin. Now, news is breaking out of Russia that they may be ready to end their time using the U. S. Dollar as Russia can move from the US Dollar much sooner than we thought. Also read: Russia Plans Bitcoin Ban by....
Recent sub-zero temperatures may have paralysed parts of Eastern Europe, but they haven't done much to slow down the Bank of Russia, the country's central bank. On Monday, the bank issued a statement on the use of digital currencies. It resembled similar warnings issued by regulators in Asia and Europe over the past few months, so the pattern is very familiar. The bank points out that these currencies aren't backed by a state entity, that they are speculative in nature and that trades are carried out on virtual exchanges are "high risk". The statement goes on to warn citizens and....