Russian President Vladimir Putin made statements about cryptocurrencies, which has become one of the most controversial investment tools in recent years. Putin, who opposed the Central Bank of Russia with his statements, announced that he would support crypto currency mining in case of regulation. The Central Bank of Russia, on the other hand, wants cryptocurrencies to be banned completely from the country.
Vladimir Putin, who held a press conference yesterday, underlined that Russia is an advantageous country in cryptocurrency mining at this press conference related to mining. However, pointing out that there is a disagreement between the Russian Central Bank and the Ministry of Finance, Putin stated that the parties should agree on this point. According to the latest information, Putin is in favor of bringing cryptocurrency mining under a regulation and making the country a mining paradise. However, it is not yet clear how the Central Bank and the Ministry of Finance will reach an agreement on this issue.
Could Russia become a mining paradise?
There are no rules regarding cryptocurrency mining in Russia. However, a regulation to be made could completely change Russia’s place in the crypto money world. Because the climate of Russia is quite suitable for cryptocurrency mining. Especially when we consider how cold the weather is for Bitcoin and Ethereum mining, we can say that the country is perfect for cryptocurrency mining. Moreover, it should not be forgotten that Russia is an energy-rich country.
The center of cryptocurrency mining was China until a while ago. But in the past year, that has changed. The Chinese government has banned mining in the country. This led to the relocation of miners from China to Kazakhstan. However, the internal turmoil that broke out in Kazakhstan a while ago made the miners nervous. In fact, we talked about how Kazakhstan became a favorite for mining in a content we prepared for you. If Russia allows cryptocurrency mining, all balances in the industry could change. Because moving from Kazakhstan to Russia is much easier than moving miners to countries like the USA. Together we will see what awaits the future of mining. . .
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