Market Wrap: Bitcoin Rises Despite Russia's Proposed Crypto Ban

Market Wrap: Bitcoin Rises Despite Russia's Proposed Crypto Ban
Bitcoin returned above $43,000 on Thursday and was up about 3%, indicating renewed buying interest after a relatively quiet week. Despite the recent decline in trading activity, analysts are still monitoring macroeconomic and regulatory risks that could trigger a rise in volatility.On Thursday, Russia’s central bank suggested that lawmakers need to implement regulations to effectively ban domestic crypto-related activities. The bank made it clear, however, that is not suggesting banning ownership of crypto by private citizens. Instead, the proposal targets Russian institutional investors, financial infrastructure providers and other organizations that could facilitate crypto transactions.The proposal comes after Binance, a crypto…