Deal Or No Deal

Just as we're seeing a sudden increase in interest from the financial sector who are looking to integrate cryptoassets into their ecosystem, it seems that some countries are now seeing the urgency as well.

Yesterday, the Kremlin put out a statement from President Putin who has issued a hard deadline of July 1st, just five months from now, for the full regulation of digital assets and cryptocurrencies. It seems as if Russia is now rushing to get involved in all aspects of this new market including bitcoin trading, ICOs, mining operations and so on.

Some economists are already casting doubts about the sustainability of US debt and the viability of the US Dollar as the global reserve currency. Yesterday we even explored how the US Federal Reserve has provided evidence that the current trajectory is cause for concern.

Russia and several other countries are not happy with the status quo and have been advocating for some level of de-dollarization for a long time. We can only speculate at this point whether or not the legalization of crypto is part of that strategy.

Traditional Markets

The meeting between President Trump and Kim Jong Un ended abruptly this morning and no deal was reached. The tone from the President is still positive as he feels that a deal could eventually be reached but in any negotiations, "sometimes you need to walk away."

Focus will soon shift back to the negotiations between the US and China. It seems that Trump and Xi will be meeting soon at Trump's resort in Mar-a-Lago.

Indeed, the entire episode that we witnessed this morning in Vietnam seems to be a precursor to the Xi meetings. By walking away from Kim, Trump has greatly strengthened his reputation of being willing to walk out if he doesn't get what he wants. In the press Hanoi conference, Trump even claimed that the current tariffs are improving economic conditions back home and weakening coinditions in China.

Manufacturing data out of China last night seem to back this claim...

1 2 3
View single page >> |

Please note: All data, figures & graphs are valid as of February 28th. All trading carries risk. Only risk capital you can afford to lose.

Disclaimer: This content is for information ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.