Skip to content
Sport News | Putin Crypto News Strengthens Coins Amid Russian Bitcoin Ban, Fed Fears

 |  Latest News Headlines

Putin Crypto News Strengthens Coins Amid Russian Bitcoin Ban, Fed Fears

| Local Business News | World News


There has been a lot of anxiety in the crypto industry as a whole recently, and it has a lot to do with regulation. After the Chinese crackdown, India showed interest in a crypto ban. Meanwhile, the United States will soon start falling on the asset class. And to top it off, Russia has been raising concerns over its own possible crypto ban in recent weeks. Luckily for the crypto bulls, however, it looks like things won’t get so drastic inside the superpower’s borders. Some crypto news from Vladimir Putin is starting to ease the tension.

Source: Frédéric Legrand – COMEO / Shutterstock.com

Indeed, the United States and Russia are in the spotlight among crypto investors, as both countries seem to be preparing regulations. While the governments of both countries are full of mixed opinions on the asset class, investors are holding their breath; no one really knows what to make of the severity of these regulations once revealed.

Things are picking up this week. First, the US will potentially cause some turbulence for crypto prices as the Fed meeting draws to a close today. We will know through the Fed’s post-meeting statement whether or not interest rate hikes will take place in March. If true, the news could be detrimental to already struggling cryptocurrency prices.

Putin Crypto News Allays Fears of a Russian Crypto Ban

As this drama unfolds in the US, there is some bullish news on Vladimir Putin’s crypto that relieves some of the tension. Indeed, the President of Russia does not seem ready to outright ban crypto.

Concerns began last week, as Russia’s central bank proposed a sweeping ban on crypto trading, trading, and mining. In a report detailing the issues and risks in crypto trading, the bank advised the government to take swift action; of course, this caused a lot of concern, as Russia is a vast global superpower and cutting itself off from crypto completely could hamper the growth of the sector.

On Tuesday, it emerged that this view is not shared by everyone in the world of Russian economic policy. Indeed, the Russian Finance Ministry said yesterday that it opposes a blanket ban. On the contrary, he advised regulation of crypto.

In comments made this afternoon, President Putin suggests that he is also not entirely comfortable with the idea of ​​a total ban. The president today met with other Russian government officials via video. During the meeting, Putin advised both sides to come to an agreement in the middle. Putin’s reason for this is relatively simple; he believes that the country’s excess power gives it a competitive advantage over other countries in terms of mining. Putin says this benefit can potentially outweigh the risks of crypto.

As this news breaks, the crypto industry appears to be trending higher, or at least sideways throughout the afternoon. Naturally, this is a welcome change from the massive losses seen earlier in the week.

As of the date of publication, Brenden Rearick had no position (directly or indirectly) in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.

Putin Crypto News Strengthens Coins Amid Russian Bitcoin Ban, Fed Fears

| Latest News Headlines abc News
InvestorPlace

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.