Bitcoin falls again over the weekend, cryptocurrency rollover on Russia may not be realistic

On Friday, Jesse Powell, CEO of Kraken, one of the world's largest cryptocurrency exchanges, said the exchange would not close its Russian accounts unless ordered to do so by the U.S. State Department. Meanwhile, Kraken's rivals Coinan, Coinbase and FTX are also still operating in Russia. Coinbase CEO Brian Armstrong echoed similar sentiments, explaining that the exchange did not "pre-emptively He explained that the exchange did not "pre-emptively" ban all Russians from using the platform. This comes after Ukrainian Deputy Prime Minister Mykhailo Fedorov took to social media to call for all major crypto exchanges to block addresses.

People's Bank of China: Global Share of Bitcoin Transactions in China Drops from Over 90% to 10%

On March 3, the Financial Stability Bureau of the People's Bank of China (PBOC) issued a statement saying that important results have been achieved in preventing and resolving financial risks since the 19th National Congress of the Communist Party of China, including a comprehensive cleanup and rectification of the financial order. Effectively curbing the speculative culture of domestic virtual currency trading, the global share of bitcoin trading in China has rapidly dropped from over 90% to 10%. The Central Bank's Financial Stability Bureau also noted that the current chassis of China's financial system is sound. This is reflected in the overall stability of banking and financial institutions, the overall strengthening of the rule of law and market-oriented concepts and the increasing improvement of long-term mechanisms for risk prevention and control.