4 hours ago | 2 minutes reading
Major companies have refused to suspend the accounts of all Russian users. The UK is cracking down on crypto advertising and has warned businesses.
The governor of the European Central Bank has warned that cryptocurrency exchanges could be “accomplices” in evading sanctions imposed on Russian citizens. According to Christine Lagarde’s strong remark, digital assets are being used to mitigate the effect of extreme actions taken in response to the Russian invasion of Ukrainian territory. Major companies have refused to suspend the accounts of all Russian users, and some crypto exchanges may use Lagarde’s statements as a warning to do more to prevent their trading platforms from being used by people on sanctions lists.
Optimistic sentiment across the market
It is a positive development that the world’s largest hedge fund plans to get involved in the cryptocurrency market. Bridgewater Associates is said to be supporting a crypto fund rather than investing directly in digital assets, according to reports. This could encourage other institutional investors to take cryptocurrency more seriously because of Bridgewater’s $150 billion in assets under management.
The UK is cracking down on crypto ads and has warned companies that break the rules that they could be punished or go bankrupt. In addition, fifty companies have been warned that they would be penalized if they did not change their advertisements. According to the Advertising Standards Authority, digital assets are uncontrolled in the UK and their value can rise and fall. With publicity campaigns, investment choices can’t seem easy, straight forward, or right for everyone.
According to LunarCrush, global activity in the crypto market has surged and has been largely green. Market cap was up 1.86% and shared links were up 61.26%. In addition, news volume increased by 106.5% and social volume by 41.24%.