Russen investieren in bitcoin
Department of the Treasury is taking aim at bitcoin miners operating in Russia as the country's war on Ukraine approaches its third month.
According to data from Cambridge UniversityRussia is the world's third-biggest destination for bitcoin mining. However, mining companies rely on imported computer equipment and fiat payments, which makes them vulnerable to sanctions," continued the statement.
The United States views income from the crypto mining industry as a potential threat to the efficacy of its sanctions regime, with the Treasury saying that it is committed to ensuring that no asset becomes a mechanism for the Putin regime to offset the impact of sanctions. Among the companies targeted by U. The mining firm employs over full-time staff in three offices across Russia, according to its website.
Restrictions on owning cryptocurrency are not envisaged, said Elizaveta Danilova, head of the central bank's financial stability department. The central bank said it would work with regulators in countries where crypto exchanges are registered to collect information about the operations of Russian clients.
It pointed to steps taken in other countries, such as China, to curb cryptocurrency activity.
In September, China intensified its crackdown on cryptocurrencies with a blanket ban on all crypto transactions and mining, hitting bitcoin and other major coins and pressuring crypto and blockchain-related stocks. CRYPTO MINING Russia is the world's third-largest player in bitcoin mining, behind the United States and Kazakhstan, though the latter may see a miner exodus over fears of tightening regulation following unrest earlier this month.
Bitcoin and other cryptocurrencies are "mined" by powerful computers that compete against others hooked up to a global network to solve complex mathematical puzzles.
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The Finance Ministry decided to fill this gap," Alexei Moiseev, Russia's deputy finance minister. In JanuaryRussia moved to legalize cryptocurrency trading on official trading platforms, saying regulations are needed to protect individuals from getting swindled in the opaque, unregulated Crypto Wild West.
- Bitcoin mining is big in Russia.
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- Russian c.
In early OctoberPutin said crypto can easily be exploited for money-laundering and other illegal activities. He even called virtual currencies a " pyramid scheme. See more: Bitcoin Price Tumbles as SEC Says Crypto Exchanges Must Register.