PANews reported on January 14 that, according to TASS, Anatoly Aksakov, chairman of the Financial Market Committee of the Russian State Duma, said that a bill aimed at removing cryptocurrencies from a special financial regulatory framework is ready, which would make cryptocurrencies a common payment tool in the lives of Russian citizens.
Aksakov pointed out that the bill will allow non-accredited investors to purchase cryptocurrencies, but the total amount that an individual can purchase will be capped at 300,000 rubles; professional financial market participants will be able to operate in the market without restrictions. Furthermore, cryptocurrencies will be usable for international settlements and will circulate in other countries' financial markets after their issuance in Russia. He stated that the State Duma will focus on advancing legislation related to digital financial assets and cryptocurrencies at its upcoming spring session.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
