Russia Tightens Regulations on Unauthorized Crypto Services
- Bill Submission: The Russian government has submitted a bill to the State Duma aimed at imposing criminal penalties on unregistered crypto services, with individuals facing up to 4 years in prison and a $4,000 fine, marking a significant turning point in Russia's crypto policy.
- Organized Crime Penalties: For organized activities, penalties can escalate to 7 years imprisonment or 5 years of forced labor, reflecting the government's stringent approach to curbing large-scale illicit income and addressing the chaotic development of the crypto market.
- Regulatory Context: Government estimates indicate that approximately $129 billion in crypto assets evade state control annually, with daily transaction volumes reaching 50 billion rubles, highlighting the immense pressure on Russian authorities to act against capital flight.
- Balancing Regulation and Market: The Bank of Russia and the government are working on a legal framework that would allow brokers and traditional exchanges to integrate crypto without additional licenses, aiming to strike a balance between controlling capital flows and not stifling an already established market.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK). As of , Lorenzo Protocol (BANK) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0234 | 0.0277 | 0.0322 | 0.0365 | 0.041 | 0.0453 | 0.0498 |
| Fibonacci | 0.0277 | 0.0311 | 0.0331 | 0.0365 | 0.0399 | 0.0419 | 0.0453 |
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