Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Mining now Legalized in Russia
by
Akbarkoe
on 14/08/2024, 17:24:24 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.
Unfortunately they were late in realizing it, but now it is much more because they should have done something like that to be one of the countries that adapted to satoshi's discovery, this mining is certainly good news for bitcoin and going forward it is certainly a clear vision for the future of bitcoin.

Speaking of China, I had a wild discussion with some wild people as analysts of the development of the bitcoin industry, they said that China will also unbaned bitcoin mining which they have strictly prohibited, but regarding the timing is still uncertain because it is only a thought, and in the future it will become more friendly again with bitcoin, maybe we just need to wait for the time.