The issue of legalizing the mining of cryptocurrencies in Russia is not new. However, now the country's Energy Ministry is emphasizing the need to create a proper framework so that the economy can benefit from it.
Whenever a country is sanctioned, its traditional banking institutions are the number one target. This is the same thing that happened recently with Russia when the EU, NATO, the US and many other democratic countries decided to impose tough economic sanctions for invading Ukraine. Now Washington is considering cryptocurrencies as a possible tool for sanctions against Russia.
The currently prevailing political war between Russia and Ukraine required faster preparation of the respective citizens for emergencies. People have withdrawn their money from ATMs and are therefore cashless. At the same time, they cannot join the queues at the banks to collect their money from the counters, so they are in a state of helplessness.
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.
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.