Bitcoin Value Stable Around $43,000
Bitcoin gave up some of its gains on Thursday morning, but not before walking three days in a row.
Bitcoin has been gaining momentum in recent days, with prices rising more than 17% in just three days. The currency has risen sharply, so many people are calling Bitcoin a ‘safe haven’ again.
Bitcoin is on quite a rollercoaster this year! It was up six out of seven days, but continues to fall more than 5% so far.
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According to French Finance Minister Bruno le Maire, the European Union has announced that it will include cryptocurrencies in its sanctions against Russia. The decision is expected to have a significant impact on crypto markets and could lead to countries like France or Great Britain. They are currently considering cryptocurrency legislation to recognize them as legal tender soon enough.
Reuters reports: that the move is intended to make Russian aggression against Ukraine as expensive as possible.
According to Bruno le Maire, the deterrents against Russia have been very effective and have left the country’s financial system in shambles. The Russian central bank cannot protect its currency, which many believe will lead to another economic downturn, such as during the ‘disintegration period’ of the 1990s.
European Union freezes Russian central bank’s assets
The European Union has punished Moscow for its aggression against Ukraine. The bloc of 27 countries imposed three packages containing dozens of sanctions against the Russian leadership and civilians associated with separatists in eastern Ukraine. Who fight against government forces loyal to Kiev; these measures target individuals and companies, such as oil companies, who support President Putin’s war efforts there.
Bitcoin is stable around $43,000 | Source: BTC/USD chart on Tradingview.com
Russia suffers significant financial losses as Western countries punish them for meddling in democratic processes. The European Union has announced that it will freeze the assets of the Russian central bank and disconnect seven banks from the SWIFT financial messaging system.
Related literature | Russia Can’t Rely On Crypto As A Shield Against Crippling Sanctions, Analysts Say
UN General Assembly reprimands Russia
The UN General Assembly reprimanded Russia for invading Ukraine and demanded that it stop fighting to withdraw its forces from the country. The vote is an action to diplomatically isolate them from this global body. More countries to follow as diplomatic isolation continues against Moscow’s policies in Europe.
The UN Security Council held an emergency meeting on Wednesday to pass a resolution on Ukraine after Russia stepped up its airstrikes and bombed civilians in an attempt to take control of Kherson’s port from government forces. The UN Council secured a majority of 141 out of 193 votes, with support mainly from Western countries.
The text adopted a resolution deploring Russian aggression against Ukraine. The last time the Security Council met in an emergency session of the General Assembly was in 1982.
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