The Russian Government Has Approved Legislation to Regulate the Circulation of Digital Currencies

Join the Trading Community: Learn & Earn with BingX.

Today’s Cryptocurrency Headline

The Russian government has approved legislation to regulate the circulation of digital currencies, according to a Russian government insider. The Russian government will strictly supervise the circulation of cryptocurrency in the country and further protect the rights of ordinary investors. The finance ministry and the central bank have until February 18th to draw up legislation. This means that there will not be a blanket ban on the use, exchange and circulation of digital currencies in Russia.

BingX’s Bitcoin Chart

Source: TradingView& BingX

In a report Tuesday, JPMorgan reiterated Bitcoin’s “fair value” at $38,000, about 12% below current levels. Bitcoin briefly topped $45,000 yesterday, leading other cryptocurrencies to follow suit. This reflects a renewed embrace of risk assets by global investors. But the overall cryptocurrency market is not necessarily out of the bottom, and the outlook remains uncertain. If the BTC price does not stand above $48,000 in the short term, then the cryptocurrency market may still be difficult to reverse.

 

Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.