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Today’s Cryptocurrency Headline
Russian financial authorities have started working on a mechanism to facilitate the use of cryptocurrencies for settlements with other countries during sanctions. This week, the country’s central bank and finance ministry have agreed on a draft law regulating cross-border crypto payments. Russian authorities intend to regulate the issuance, circulation and various businesses of digital assets, including international crypto payments, by the end of 2022. The current version of the “Digital Currency” Act, proposed by the Russian Ministry of Finance earlier this year and revised based on input from other authorities, provides for the establishment of domestic infrastructure for crypto asset trading.
BingX’s Bitcoin Chart
Bitcoin is down 1.21% over the last 24 hours and fell to an intraday low of $18,631.72. The 50-day simple moving average and the 20-day exponential moving average are sloping down, and the RSI is in the negative territory, indicating an advantage to sellers. For now, buyers need to push the price above the 20-day exponential moving average ($19,717) to establish a relief rally.
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