Russia Intends to Sell Electricity to Kazakhstan for Crypto Mining
The Russian government is exploring the possibility of supplying electricity to Kazakhstan for the needs of crypto mining companies.
The Russian government is exploring the possibility of supplying electricity to Kazakhstan for the needs of crypto mining companies.
The European Union is preparing a new sanctions package against Moscow.
The Central Bank of Russian believes it is impossible to recognize cryptocurrencies and stablecoins as means of payment.
The Ministry of Finance and the Bank of Russia have recently approved the final version of the regulatory framework for individuals and legal entities involved in cryptocurrency mining.
Crypto exchange BitMEX has decided to stop offering its services to Russian users to comply with the sanctions imposed by the European Union.
More than 2% of the total amount of electricity generated in Russian is consumed by citizens and companies involved in crypto mining.
According to analysts from international rating agency Moody’s, cryptos are not an effective solution for Russia to circumvent sanctions.
"A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution." - Satoshi Nakamoto (Bitcoin White Paper)
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