Nuclear-level news: Russia supports cryptocurrency trading and launches an exchange

Please note that this exchange is jointly launched by the Central Bank of Russia and is more significant than the time Coinbase went public on Nasdaq because it is driven by a core institution of a major government. The only major country involved in cryptocurrency is the United States, and this marks an important step in the globalization of the crypto space!

1. The details of this news include the following two points: First, priority is given to the wealthy, with a minimum securities investment of 1.2 million or last year's income exceeding 600,000 required to participate. Second, Russian oil companies are already using BTC and ETH for trade with China and India.

2. In March 2024, China's imports of fossil fuels from Russia amounted to 6.8 billion euros, with crude oil accounting for 70%, approximately 3.8 billion euros, nearly 50 billion annually. In March 2024, India's imports of fossil fuels from Russia amounted to 4.4 billion euros, with crude oil accounting for 80%, approximately 3.5 billion euros, totaling 42 billion annually.

Although the digital settlement of cryptocurrencies is part of the national budget, the current oil trade volume of nearly 100 billion annually means that a 1% focus on cryptocurrency equals 1 billion dollars, and a 10% focus equals 10 billion.

3. While the legislative framework for cryptocurrency in the United States is not well established, major world powers are already using Bitcoin for Ethereum transactions, indirectly indicating that these two currencies are recognized by major countries such as the United States, China, Russia, and India as valuable currencies with property value.