- US corners and blocks all sorts of crypto based services for Russia.
- The US asks crypto exchanges to ban services to Russia .
- BTC and ETH on the rise.
It’s almost going to be one whole week ever since Russia waged war on Ukraine. Day by day things are getting worse, almost all over the world. Despite many talks by both the countries together, it seems none has paid off.
In such terms, all those countries, indeed the whole world except Russia and its subordinates are supporting Ukraine, rather not directly with their own military, but indirectly. This includes massive lending of weaponries, various forms of finances, and also restricting Russia by all means possible.
Among them, the United States has declared a complete ban on all sorts of finance based trades and finances with Russian based firms. Moreover, the World bank has also excluded Russia. Accordingly, the US has deliberately restricted the sanctions of crypto withdrawals and crypto transactions from and based in Russia.
Crypto Cornerings for Russia
By first restricting all sources of direct finances from the US to Russia, now the US takes a step further, by making sure no crypto transactions are being done to Russia. In spite of this, the US has asked various prominent crypto exchanges based in the US and also international crypto exchanges like Binance, Coinbase and much more.
Accordingly, it’s expected that most of these crypto exchanges will adhere to the US, as they themselves are in support of Ukraine. Besides, the ongoing war has affected the entire crypto industry deliberately.
In spite of this, the entire industry was down until the past 48 hours. The past 48 hours saw a humongous growth upon both the Bitcoin (BTC) and the altcoins. In addition, the BTC is currently on a rise of about nearly 7% for the past 24 hours, trading for the price of $44K approximately.
On the other hand, the Ethereum (ETH) has spiked up by 4.5% for the past 24 hours, and is currently traded for the price of $2.9K.
