The changing geopolitical and economic environment, as well as persisting differences between responsible government institutions, are hindering the advance of legislation tailored to regulate cryptocurrency mining in Russia. According to a report quoting industry watchers, these factors are halting the advance of the necessary legislation.
Two Draft Laws on Mining Await Approval by the Russian Government
Despite the latest market downturn, the mining of cryptocurrencies continues to expand in Russia, the crypto page of the Russian business news portal RBC noted in an article. The vast country, which ranked fifth among mining destinations in the beginning of the year, offers abundant energy resources and suitable climatic conditions.
A recent report also revealed that the consumption of electricity used to power Russian mining farms has increased almost 20 times in the past five years. With 1.25 gigawatts burned last year for the production of bitcoin (BTC) alone, the amount of...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...