Post
Topic
Board Altcoin Discussion
Re: What is Russia brewing?
by
Coyster
on 28/03/2022, 17:17:08 UTC
Here is a link to a news on the whole issue, OP please next time try to share a link for people who prolly have not heard a thing about what you are talking about.
https://coinidol.com/russia-legalize-cryptocurrency-mining/

Having said that, from the news' i have read thus far on this particular issue, it is basically clear that Russia are attempting to legalize crypto mining to aid their economy after it has been hit hard by numerous sanctions over the past one month. It is no longer news that Russia invaded Ukraine about a month ago, and in response to that, The U.S, U.K and The E.U have hit really hard sanctions on the energy power house, making them a sort of pariah nation at the moment.

Russia in turn have to find ways to ease their economic crash and make things fairly better, mining has been ongoing in Russia, but since the country banned it, we can say it has been happening illegally, so if Russia manages to make mining legal now, miners can now freely mine crypto without hiding, while the government benefits in return through taxes and every other kind of fees miners would be expected to pay, this could at least help their economy, even if personally i think the effect would be minimal.