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Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even digital assets in the future. Foreign Ministry Official Sees Russia Acquiring … Read more
Russian authorities continue to show increasing interest in cryptocurrencies as Bitcoin nears a new all-time high. Go to Source Powered by WPeMatico
Last week, the Russian president said it was “a bit early” to use cryptocurrencies to settle oil trades. Go to Source Powered by WPeMatico
Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. Cryptocurrency Miners in Russia and Belarus May Face Higher Energy … Read more
Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value … Read more
The Bank of Russia remains skeptical on crypto despite the Russian president viewing it as a potential unit of account. Go to Source Powered by WPeMatico
Russia’s Irkutsk region saw its energy consumption rates surge by 160% following China’s crackdown on crypto mining. Go to Source Powered by WPeMatico
The Russian president has not excluded the possibility that, at some point, crypto will become a “means of accumulation.” Go to Source Powered by WPeMatico
After China has reigned for a number of consecutive years as the dominant bitcoin mining epicenter of the world, the United States has “taken the leading position in bitcoin mining,” according to new data from Cambridge University. Data Shows US, Kazakhstan, Russian Federation Rule the Bitcoin Mining Roost In mid-July, researchers from the Cambridge Bitcoin … Read more
Russia is not going to follow China’s course and does not plan to ban its citizens from purchasing cryptocurrency on foreign exchanges, a high-ranking government official has indicated. Russians will not be able to pay with digital coins in their own country but are free to use crypto wallets beyond its borders. Russians Can Purchase … Read more
