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Cryptocurrency market trending lower as Russia-Ukraine weighs on prices
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Cryptocurrency was trading lower early Monday morning with all of the major coins in the red.
Bitcoin was trading at around $38,340, down 1.63%, while Ethereum and Dogecoin were lower by 4.64% at nearly $2,630 and 12.4 cents, down 1.36%, respectively, Coindesk reported.
Washington is considering a novel area for possible further sanctions against Russia: cryptocurrencies.
RUSSIAN BITCOIN AND OTHER CRYPTOCURRENCIES COULD BE PART OF FUTURE SANCTIONS
Targeting the country's access to cryptocurrencies, such as Bitcoin and Ethereum, would take sanctions policy into uncharted territory. Blocking transactions would be challenging, since by nature private, digital currencies are designed to exist without borders and for the most part outside the government-regulated financial system.