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Russia Expects Sizable Increase in Crypto Miners’ Share of Power Usage


The crypto mining industry may see a two-fold increase in its share of Russia’s power consumption in 2022, according to a high-ranking official from the Ministry of Energy. The department supports a bill designed to regulate the sector which is likely to be adopted this year. Russian Energy...

Russia on the Verge of Legalizing Crypto Mining


Russian lawmakers are inching closer to legalizing crypto mining – and could begin allowing industrial miners to operate as bona fide “entrepreneurs” as early as next month. Anatoly Aksakov, the head of the State Duma’s Committee on the Financial Markets, last month claimed that a bill would...

Russia’s Largest Digital Asset Deal Denominated in Chinese Yuan


A Russian company has announced the country’s first authorized transaction with digital financial assets (DFAs) involving a foreign currency, China’s yuan. The deal, reportedly the largest made to date under the current Russian DFA law, covers the issuance of tokens secured by commercial debt....

Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware


Russia’s market for specialized crypto mining equipment has been seeing high demand over the past couple of months, with buyers attracted by the low price tags. Russian experts also predict an increase in the supply of used coin minting hardware as large foreign companies leave the industry....

Russia Prepares to Create Government-Controlled Crypto Exchange


Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in the billions of rubles, pointed out one of...

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