Crypto Espresso: Your quick shot of the latest moves
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The EU is busting out the moves to whack Russia with a crypto-services ban, BTC Markets says Aussie women are more into crypto-love than Aussie men and the election is on – does labor have a big crypto-problem?
It’s Monday in Cryptoland. Let’s begin.
Forbes: The European Union (EU) has banned the provision of high-value cryptocurrency services to Russia as part of the latest sanctions salvo in response to the invasion of Ukraine.
The move prohibits deposits to crypto wallets—including using popular cryptocurrencies Bitcoin, Ethereum, BNB, XRP, Cardano, Solana and Luna — and follows a warning from European Central Bank president Christine Lagarde that cryptocurrencies pose a “threat” to the bloc’s efforts to sanction Russia.
Fortune: BTC Markets, the Australian Bitcoin and cryptocurrency exchange, saw a 175% increase in women users last fiscal year, dwarfing the 80% increase it saw in male users, according to a new report by the company.
Women also made larger initial deposits, averaging $2,381, compared to the $2,060 average deposited by men. Portfolio size was slightly less for who traded fewer times a day compared to men — which BTC suggests shows a “structured trading strategy” by women, “with a smaller range of more focused positions.”
Women are often found to be more risk-averse than men in behavioural finance studies. “More women trading cryptocurrency dispels stereotypes around cryptocurrency investors being risk lovers,” the report says.
Coin Telegraph: Australia’s opposition Labor party is facing criticism over its lack of formal policy regarding the cryptocurrency industry.
“With at least 18% of Australians having invested in crypto at some point, according to new figures from Gemini, cryptocurrency is becoming an election issue that cannot be ignored,” the site says.
Crypto venture capitalist Mark Carnegie said at the AFR Cryptocurrency Summit last week he believes crypto should be a key talking point for the election candidates. “The idea that the Labor Party does not have a policy about what we’re doing about this, it just shows you the failure of leadership,” he said.
Finbold: Nonprofit organisation Empower Oversight has made public Securities Exchange Commission emails detailing improper conduct by the agency’s officials concerning the Ripple lawsuit.
In a statement, the organisation said the emails indicate former SEC official William Hinman was cautioned about a conflict of interest with his old firm Simpson Thacher.
EO filed for the release of the stating that it could prove the SEC was selectively enforcing laws for the crypto sector. The organisation argued that there is a possibility that the SEC was promoting some over others.