Bitcoin Nears $60,000 As Putin Signs Law Legalizing Crypto Mining In Russia
In a significant boost for the largest cryptocurrency on the market, Bitcoin (BTC) has surged nearly 9% in the last 24 hours, inching closer to the coveted $60,000 milestone. This price rally comes after BTC hit a 7-month low of $49,000 earlier this week amid broader market uncertainty. Fueling this crypto resurgence is a significant development in Russia, where President Vladimir Putin has officially signed a law legalizing cryptocurrency mining in the country. Russia Formalizes Crypto Mining Rules According to a local media report, the new law introduces several legal concepts related....
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Russian President Vladimir Putin has cautioned of an impending energy problem brought about by the unbridled growth of bitcoin mining in his nation. Emphasizing the enormous power consumption of mining activities, Putin said that these operations account for about 1.5% of Russia’s overall electricity consumption. This translates to a whopping 16 billion kilowatt-hours yearly. The […]
President Vladimir Putin argued in favor of bitcoin mining citing the competitive advantages it brings for the country, thus opposing the crypto mining ban recently proposed by the Central Bank following the pressure from Russia’s Federal Security Service. The Crypto Ban The Central Bank of Russia has flirted with the possibility of a crackdown on […]
Bitcoin and other types of crypto has just been outlawed in Russia by no less than the commander in chief himself. A Russian legislative support system website said that on Saturday, Russian President Vladimir Putin approved a legislation setting immediate prohibitions on the use of digital financial assets as a payment method in the country. […]
President Vladimir Putin has joined the debate on the future of cryptocurrencies in Russia, calling on the government and central bank to work out a common position on their regulation. The Russian leader also emphasized Russia’s strengths as a crypto mining destination.
Putin Asks Ministers and Bankers to Report Back With Consensus on Cryptocurrencies
Russian President Vladimir Putin has added his comments to the ongoing discussion on how to put Russia’s growing crypto space in order. At the start of a video conference with the members of the Russian government,....
Putin says that a surplus of electricity and well-trained personnel gives Russia a “competitive advantage” in crypto mining. Russian president Vladmir Putin has given crypto enthusiasts a glimmer of hope for the future of digital assets in the country, which have been under threat from a recent push to ban cryptocurrencies and mining. The strongman leader opened a Jan 26 video conference with members of the Russian government by saying he would like to “start with an issue that is currently in the spotlight — the regulation of cryptocurrencies.”“Of course, we also have certain competitive....