Articles in Category RUSSIA

In a recent development, Russian President Vladimir Putin has reaffirmed his support for Bitcoin and other digital assets as the European powerhouse continues to embrace greater crypto adoption. During a speech at the World Trade Center in Moscow on Wednesday, December 4th, as reported by Bloomberg and the local news agency TASS, Putin asserted that "nobody can stop Bitcoin."

The Russian sovereign wealth fund is channelling investment into bitcoin mining in the BRICS countries to facilitate global trade settlement in bitcoin. The concentration of mining in the BRICS countries could lead to centralisation, which would be a potential risk to the ethos of bitcoin.

New regulations grant the Russian government enhanced powers to restrict mining, monitor transactions, and manage digital currency infrastructure.

The ministry is prepared to supply bitcoin miners with surplus electricity in times of abundance.