The Russian government is exploring the possibility of supplying electricity to Kazakhstan for the needs of crypto mining companies.
The Central Bank of Russian believes it is impossible to recognize cryptocurrencies and stablecoins as means of payment.
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.