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Russia prioritizes CBDC ruble as overall crypto outlook seems positive
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After the Chinese authorities introduced a complete ban on cryptocurrency transactions in September by equating them to illegal financial activity, local cryptocurrency miners either dropped off the radar or moved to other countries in order to continue with their business.
The United States subsequently became the leader in terms of Bitcoin (BTC) mining volumes with a share of 35.4%. Modest Kazakhstan is currently in second place (18.1%), and the bronze spot was secured by Russia (11.23%).
It’s not surprising because Russia has several advantages, meaning that conducting crypto business in the country is extremely lucrative for almost any miner. There is cheap electricity and, at least for now, friendly legislative regulation. According to
Read more on cointelegraph.comAbout this in other media
Russia Still No Closer to Regulating Crypto Despite Central Bank ‘Concession’ cryptonews.com /3 years ago
Bank of Russia to allow crypto investment via foreign firms: Report cointelegraph.com /3 years ago
Private Cryptocurrencies May Soon Vanish From Russia blockchain.news /3 years ago
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