Market Update: Crypto Market Rebounds As Tech firms Boycott Russia
This morning, the crypto market registered gains, with most top 10 cryptocurrencies registering positive numbers over the past 24 hours. In a move to support Ukraine Apple has joined other major tech firms in Boycotting Russia. As a result, customers living there can no longer buy any of their products or make purchases via app store– including iPhones. The markets were in turmoil yesterday as fighting between Russia and Ukraine continued. Related Reading | Bitcoin Closes 1st Green Month After 3 Reds, What History Says May Happen The markets will be watching closely today as....
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Bitcoin has found temporal support at $39,000, but buyers have been scarce as the market enters into weekend price action. Uncertainty around macro factors seems to be growing with the Russia-Ukraine conflict contributing with the selling pressure experience by BTC and larger cryptocurrencies over the past days. Related Reading | Market Update: Crypto Market Rebounds As Tech firms Boycott Russia At the time of writing, Bitcoin trades at $39,168 with a 4.2% loss in the past 24 hours. The benchmark crypto saw some relief before the current downside action. Per a report from research....
Both Peter Todd and Andreas Antonopoulos have voiced their distaste for the latest Bitcoin Improvement Proposal (BIP75)’s know-your-customer (KYC) and anti-money laundering (AML) aspects. BIP75: ‘A Bad Strategy for Bitcoin’. The update, known as BIP75 and co-authored by developers from Netki and Breadwallet, allows for transactions to be more compliant....
Following price consolidation on Tuesday, bitcoin prices rebounded on hump-day, as markets reacted to the news that Russia will regulate, and not ban, crypto. Bitcoin Bitcoin was marginally higher on Wednesday, as the world’s largest cryptocurrency received a boost from the news surrounding Russia. BTC/USD rose to an intraday high of $44,312.45 during today’s session, as bulls re-entered the race following yesterday’s consolidation The move has seen prices head closer to the $45,000 level, however bitcoin will first need to overcome resistance at $44,800. Still,....
Russia's FinTech Association, established in part to encourage wider exploration of distributed ledger tech, has appointed Qiwi chief Sergey Solonin as its new CEO. Solonin will now lead the consortium effort, a role that will find him coordinating R&D efforts with the Bank of Russia, Sberbank, VTB Bank, Alfa Bank, Gazprombank, Bank Otkritie and the National System of Payment Cards (NSPK). According to a release from the group, the consortium members will explore applications including digital identity, distributed ledgers and open APIs. Solonin said in the statement: "The concept....
With sanctions cutting off Russia from global finances, Moscow’s motivation to establish a domestic market infrastructure for digital assets grows, a top official at the Russian finance ministry has noted. The comment comes as Russians are losing access to foreign crypto platforms.
Russia Recognizes Need for Local Crypto Assets Market
Amid expanding international sanctions over the invasion of Ukraine, Russia has been turning its attention to cryptocurrencies while concerns in the West are growing that the country may use them to circumvent financial restrictions. The....