After many years of deliberations and speculation, Russian President Vladimir Putin has officially signed a Bill to legalize crypto mining in the country. This new law is a historic one for the embattled country as it turned it from a Bitcoin foe to a major adopter in the past 3 years.
Russia Bitcoin Mining To Fly Significantly
The commencement of the war between Russia and Ukraine changed many things for the former. The Western Sanctions on Russia has nearly crippled its economy, setting Bitcoin as an attractive alternative.
According to a report from Tass News Agency, the new law introduces new concepts to bolster the industry. These concepts includes “digital currency mining, mining pool, mining infrastructure operator, address identifier, and the individual who organizes mining pool activities.”
With this law, crypto mining in Russia may now compete for Hashrate in established regions like the United States.
This is a developing story, please check back for updates!!!
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