Image Credit: Bloomberg.com
Feb 10, 2024
By: Bhumi Shrivastava
Image Credit: Arabian Business
Russia moved up to second place in global crypto mining, beating Kazakhstan, which was in that spot before.
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Russia has strict rules about cryptocurrencies; they can exist but can't be used for buying stuff, which makes things tricky for crypto users there.
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People are looking into how cryptocurrencies might be helping Russia get around international sanctions, with certain crypto addresses getting blacklisted by the US.
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The EU has banned crypto transactions with Russians, making things even harder for them in the crypto world.
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Despite the rules, crypto mining in Russia is growing fast, offering chances for making money and advancing technology, which could shape its future in crypto.
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Russia's still figuring out its place in the crypto world, with lots of hurdles, but with its growing mining power, it could become a big player in shaping the future of digital money.
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