Bitcoin Remains Above $40,000 – Russia Cannot Use Crypto to Avoid Economic Sanctions

Bitcoin remains above $40,000. As of today (April 8), Bitcoin fell 0.64% to $43,647.23.

All major stock markets in the U.S. closed slightly higher on Thursday. The Dow Jones ended the trading session on Thursday (April 7) with a slight gain of 87.06 points.

  • The Dow Jones Industrial Average rose 87.06 points, or 0.25%, to close at 34,583.57.
  • The S&P 500 gained 0.43% at 4,500.21 points.
  • The NASDAQ rose 0.06% to close at 13,897.30 points.

Movements in the Crypto Market

Russia’s central bank says crypto can’t help avoid economic sanctions.

Ksenia Yudaeva, deputy governor of Russia’s Central Bank, said cryptocurrencies could not be used to mitigate economic sanctions at the moment. Countries around the world have continued to impose sanctions to restrict Russia’s access to financial resources.

Yudayeva’s remarks came after lawyer Anton Gorelkin recommended allowing cryptocurrencies as a means of payment for domestic companies to conduct business.

Members of the United Russia party stressed that a national crypto framework is inevitable and must be created if Russia is to lift international sanctions. Some of Russia’s banks were just expelled from SWIFT, the main payment network for global trade.

On the contrary, officials from Russia’s Apex bank argue that restrictions on cross-border crypto transactions have been tightened due to tensions between Ukraine and Russia. Deputy Governor Yudaeva said that crypto exchanges would very strictly restrict access to trading opportunities for users in Russia.

Back in February, Ukraine’s Ministry of Digital Transformation asked global crypto exchanges to block Russian accounts.

The Spot Market is Open

Friday, April 8, 2022

Crypto
Updated at
USD
Price

Change

%Change
16.10 BTC43,726.45+21.55+0.05
16.10 ETH3,295.38+67.69+2.10
16.10 LTC114.31+0.19+0.17
16.10 BNB433.53-2.48-0.57
16.10 XRP0.790.00+0.62
16.10 ADA1.10+0.01+0.83
16.10 DOT20.39+0.07+0.34
16.10 DOGE0.15+0.01+4.23
16.10 UNI10.38+0.22+2.17
16.10 LINK15.74+0.13+0.83

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