Countries’ attitudes towards cryptocurrencies are becoming more favorable, even turning into a race. While some countries have embraced and led the way, others that were hesitant are now making rapid strides. Recently, Russia made significant moves in commercial agreements and mining, and it seems the country will not stop there.
Russia’s Major Move
Following El Salvador’s statements indicating that trade agreements could be made with cryptocurrencies, Vladimir Putin initiated a bill to legalize crypto mining in the future. The country appears to be taking even bigger steps beyond this.
According to Kommersant, Russia is taking significant steps to establish two new cryptocurrency exchanges linked to the Chinese Yuan and BRICKS currencies and to launch a stablecoin. This can be seen as a reflection of Russia’s recent policies.
In contrast to Germany’s recent large sales, Russia’s increasing Bitcoin adoption could be giving hope to market participants. Following the news, attention turned to Bitcoin’s price.
Bitcoin Current Status
Bitcoin’s price has maintained its rise since yesterday. Although there hasn’t been a significant price change following the news, BTC is seen at $61,290 after a 0.54% increase in the last 24 hours and is moving towards the resistance level at $61,500.
BTC’s market cap has risen above $1.2 trillion with the price increase, but interestingly, the trading volume in the last 24 hours has decreased by 25.6% to $25.7 billion.
