Russian officials consider proposal to mine Bitcoin with associated gas
Russian authorities continue to show increasing interest in cryptocurrencies as Bitcoin nears a new all-time high. Go to Source Powered by WPeMatico
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Russia aims to replace US dollar reserves with digital assets in long term
Last week, the Russian president said it was “a bit early” to use cryptocurrencies to settle oil trades. Go to Source Powered by WPeMatico
Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners
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
Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value
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
Bank of Russia to assess Bitcoin holdings volumes as $36M leave banks
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 considers new energy tariffs as Chinese crypto miners relocate
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
Too early to talk about using crypto for oil trading, says Putin
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
Geographic Distribution Data Shows US Takes Leading Bitcoin Mining Position After China’s Crackdown
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
Moscow Not Planning to Ban Russians From Buying Crypto Abroad
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
Investors Lost $10,000 on Average to Russian Crypto Pyramid Finiko, Poll Reveals
Investors defrauded by the Russia-based cryptocurrency Ponzi scheme Finiko have sent the crypto pyramid an average exceeding 720,000 rubles, or more than $10,000 at current exchange rates. The assessment comes from a survey of victims conducted by a public non-profit organization. Fifth of Finiko Investors Parted With Over 1 Million Rubles Russia is still trying … Read more