Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Mining now Legalized in Russia
by
CryptoHeadlineNews
on 09/08/2024, 20:58:51 UTC
Bitcoin Mining now being legalized in Russia https://watcher.guru/news/brics-russia-officially-legalizes-bitcoin-and-crypto-mining and this have  been signed into law already, I see it as a new development over BRICS in taking more considerations towards bitcoin by giving due recognition on it's mining, though China remains as it was.

Cryptocurrency mining is allowed to take effect for any industry or miner who are ready to go by the stipulated amount of energy consumption rate for the mining purpose in the country, we can also recall that recently, Russia approved the acceptance of crypto as a means of payment through international transactions.

Bitcoin is gaining more wins each day on every side, The world is now realizing more on how they needed bitcoin, especially by people and region it had been wrongly talked about, the BRICS is the main target now.

Am not sure if this has been discussed already, but I've checked on the bitcoin discussion board and see nothing related to the news updates on it.
Or could it be it's because of this news that Bitcoin was able to crose back to the _$62k benchmark after it's recent far below $55k? But, however, this is a welcome development to have Russia, one of the biggest world power embrace Bitcoin as a currency generally accepted for transactions within it's jurisdiction and also making a provision for its mining is another wonderful idea, as that will really have a positive impacts on the general use of Bitcoin globally. Moreover, this is the best time to invest in Bitcoin, because with Russia current involvement in the mining system, its likely to influence its price positively.