Here’s why experts say the crypto market will be just fine despite a possible Russian ban on everything from mining to trading

When the central bank of Russia proposed a sweeping ban Thursday on crypto activity, digital assets barely skipped a beat.

Bitcoin even rose around 5% at one point during New York trading hours. “There are bigger concerns right now in crypto right now,” Chris Vecchio of DailyFX told Insider.

“What’s happening is much more closely tied to global stimulus conditions and central banks pulling back their pandemic era efforts. That, to me, is the prevailing story here.” John Wu, president of Ava Labs, the team behind the altcoin avalanche, told Insider. “The blockchain ecosystem continues to show its maturation compared to years past, when these statements had a significant impact.”

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