- Major companies have refused to suspend the accounts of all Russian users.
- The UK is cracking down on crypto advertisements and has warned firms.
The governor of the European Central Bank has cautioned that cryptocurrency exchanges may be “accomplices” in the crime of evading sanctions imposed on Russian citizens. According to Christine Lagarde’s forceful remark, digital assets are being leveraged to mitigate the effect of extreme actions taken in response to Russia’s invasion of the 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 Sentiments Across Market
It’s a positive development that the world’s largest hedge fund plans to become involved in the cryptocurrency market. Bridgewater Associates, according to reports, would support a crypto fund rather than invest directly in digital assets. This might encourage other institutional investors to take cryptocurrency more seriously due to Bridgewater’s $150 billion in assets under management.
The UK is cracking down on crypto advertisements and has warned firms who flout the regulations that they might be punished or driven out of business. In addition, fifty firms have been warned that they would be penalized if they do not change their advertising. Digital assets are uncontrolled in the UK, according to the Advertising Standards Authority, and their worth may go up and down. Publicity campaigns cannot make investment choices seem simple, uncomplicated, or appropriate for anybody.
According to LunarCrush, the global activity in the crypto market has spiked and where mostly in green. The market cap surged by 1.86%, and shared links surged by 61.26%. Moreover, the news volume rose by 106.5% and social volume by 41.24%.