Bitcoin Mining Revenue in Russia Grew 18 Times in 4 Years Before ‘Worst Quarter’

Bitcoin Mining Revenue in Russia Grew 18 Times in 4 Years Before ‘Worst Quarter’Russian revenues from the minting of bitcoin saw a multifold increase in the past few years before declining significantly since this past spring. The findings come from a new study which also established that the sector was growing during both ups and downs in the crypto market. $1.4 Billion in Turnover Expected From Russia’s Bitcoin […]

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Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins AbroadThe Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally. Central Bank of Russia […]

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Russian Officials Back Idea of Recognizing Crypto Miners as Entrepreneurs

Russian Officials Back Idea to Recognize Crypto Miners as EntrepreneursCryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the […]

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Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates Suggest

Kazakhstan Expects $1.5 Billion From Crypto Mining in 5 Years, Estimates SuggestCrypto miners now bring more than $230 million into the economy of Kazakhstan each year and estimates show the figure could increase significantly in the future. The industry’s leading organization has projected that the government can collect more than $300 million in taxes over the next five years. Kazakhstan Makes Millions From Cryptocurrency Miners Kazakhstan’s […]

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European Banks Struggle With Low Interest Rates and Strict Regulations

European Banks Struggle With Low Interest Rates and Strict RegulationsBanks in Europe have been in a difficult spot lately. A new report reveals that financial institutions across the region faced serious difficulties in the 2018 financial year, and despite all the cost cutting that followed, haven’t managed to compensate the revenue decline in 2019. Historically low interest rates, new regulatory hurdles and competition from […]

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Tax Form to Report Revenues From Cryptocurrency Trading Issued in Poland

Tax Form to Report Revenues From Cryptocurrency Trading Issued in PolandAuthorities in Poland have clarified the taxation of revenues received from cryptocurrency exchange transactions. The Ministry of Finance has recently published a 2019 tax form that has a dedicated section where taxpayers are expected to declare separately proceeds from crypto trading. Also read: Mario Draghi Leaves European Central Bank Without Ever Raising Interest Rates Polish […]

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New Bill Clarifies Crypto Taxation in Poland

New Bill Clarifies Crypto Taxation in PolandA new draft introducing amendments regarding the taxation of crypto incomes has been published in Poland. The bill differentiates between decentralized cryptocurrencies and centralized virtual money, and clarifies the tax regime applicable to crypto trading and mining.   Also read: Eastern Europe: Regulation Postponed, Tax Abandoned, Banks Enlightened Draft Distinguishes Between Cryptos and Centralized Coins […]

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Japan’s Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-Fold

Japan's Internet Giant GMO Unveils New Crypto Priorities, Exchange Profits Up 7-FoldJapan’s GMO Internet has unveiled new priorities for its cryptocurrency business along with the performances of its crypto exchange and mining operations. The changes going forward result from the bear market and increased total hash rate. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space GMO Coin Profits Up 7.3-Fold Japanese internet giant GMO published […]

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Gaming PC That Mines While Idling Hits Market in Russia

Gaming PC That Mines While Idling Hits Market in RussiaA hybrid computer, designed to please both gamers and miners, is now selling in Russia. The company offering the new PC promises a quarter ether of monthly income for gaming enthusiasts who would like to mine when their expensive configuration is idling. The premiere coincides with reports of new negative forecasts for hardware manufacturers.  Also […]

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Nvidia Reports $289 Million Revenue from the Crypto Sector in Q1

Nvidia Reports $289 Million Revenue from the Crypto Sector in Q1Graphics card manufacturer Nvidia has announced its revenues for the first quarter, mentioning separately the amount generated from sales to the crypto market. The total includes $289 million related to GPUs for cryptocurrency mining, according to a corporate report. Demand from crypto miners was stronger than expected, the company noted.   Also read: New Player […]

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