Just as we’re seeing a sudden increase in interest from the financial sector who are looking to integrate cryptoassets into their ecosystem, it seems that some countries are now seeing the urgency as well.
Yesterday, the Kremlin put out a statement from President Putin who has issued a hard deadline of July 1st, just five months from now, for the full regulation of digital assets and cryptocurrencies. It seems as if Russia is now rushing to get involved in all aspects of this new market including bitcoin trading, ICOs, mining operations and so on.
Some economists are already casting doubts about the sustainability of US debt and the viability of the US Dollar as the global reserve currency. Yesterday we even explored how the US Federal Reserve has provided evidence that the current trajectory is cause for concern.
Russia and several other countries are not happy with the status quo and have been advocating for some level of de-dollarization for a long time. We can only speculate at this point whether or not the legalization of crypto is part of that strategy.
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The meeting between President Trump and Kim Jong Un ended abruptly this morning and no deal was reached. The tone from the President is still positive as he feels that a deal could eventually be reached but in any negotiations,