Topic: What is Russia brewing? - page 2. (Read 170 times)
Russia will do everything it can to prosper & not lose wealth. Putin doesn’t give a damn & he will do anything. If bitcoin helps them then he will have no hesitation to allow its use in trade deals or whatever. Russia is ruthless, I do not predict their economy to be in trouble for long.
Crypto has always been a friend for nations who are left alone by the rest. Venezuela, Iran they too took the help of crypto to trade with countries that they can't openly trade with. With the world divided by politics, companies and business would need alternative way to trade without being cancelled and crypto would let them do it indirectly. They don't even need to show those trades on their spreadsheet. With Ruble down, bitcoin would be a good option for Russia.
Indeed, the Russian economy began to collapse after the imposition of sanctions on it by the United States of America and its allies. It should search for alternative ways to help its economy recover. Last week, Putin said that energy exports to unfriendly countries will be sold only for rubles!!!
It is also expected to accept payments in Bitcoinfor the sale of gas and oil
It is also expected to accept payments in Bitcoinfor the sale of gas and oil
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 powerhouse, 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.
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 powerhouse, 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.
Is Russia trying to avoid sanctions by legalizing crypto mining? What do you think about this? Why now? War ain't over yet but they have the time to think about this? I will like to know people's thought on this.
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