Ban

Although the Russian government has a rather ambivalent attitude towards the cryptocurrency industry in general, citizens seem to be attracted by the benefits it offers. As a result, demand for mining equipment continues to skyrocket.

During a video conference with the government  held on January 26, Russian President Vladimir Putin instructed the government and the Bank of Russia to seek consensus on the cryptocurrency industry.

On January 20, the Bank of Russia published a report proposing to ban the cryptocurrency industry in the country. After being heavily criticized, the institution defended its position in a statement.

On January 21, the Bank of Russia received a call from an anonymous person who reported that their premises were rigged with explosives. Among other reasons, the criminal cited the possible ban on cryptocurrencies.

An unknown investor withdrew over 6 billion rubles ($83 million) in USDT from one's Binance wallet on January 20. The transaction coincided with the renewed rumors about the ban of cryptocurrencies in Russia and the news about the test of the digital ruble.

Twelve Russian banks are preparing for the first phase of testing the digital ruble. The CBDC will be available for payments between private individuals.

Meta, formerly known as Facebook, was notorious for its somewhat hostile attitude towards cryptocurrencies when it banned cryptocurrency ads. However, the company recently announced that it is rolling back the ban and allowing more crypto ads on its social media platform.

Authorities in the city of Karaganda in Kazakhstan have discovered and liquidated a shadow mining farm that was illegally consuming electricity. The increasing activity of shadow miners could lead the country to ban the industry, following China's example.

It seems that the social media war against cryptocurrencies continues. TikTok bans cryptocurrency bloggers and educators.