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Is Russia Turning its Back on Crypto?

By LimbaGreat

With stable electricity and equipping many persons in the Blockchain sector, Russia president Putin said the country would definitely have a great edge in the crypto space and mining-related activities.

After looking to put a stop to every crypto-related activity in the country, the government of Russia just could be sending some rays of light and hope to its citizens and people who have so much interest in digital assets as there are signs that Putin’s government is looking to embrace and key into the crypto sector.

There seems to be no hope of crypto having any stand or ground in the country not until Putin declared in a virtual conference held on the 26th of January, stating that he would love first to address an issue that is already out there. “Cryptos regulation and activities”

“We have all that it takes to be atop amongst other countries in the Crypto space by supplying steady electricity and training enough people with the right tools and educational materials needed to understand how the space works.”

According to the reports shown in 2021, the price of electricity for households and businesses in Russia is seen to be much lower than that of France by a margin of $0.14.

Putin has also made his intentions towards crypto regularisation in his country known by sending messages to the country’s central bank to meet up with his government to discuss a way to see crypto and its activities become legal and safe for use by everyone in the country.

Rewind to late last year, the central bank of Russia had refused and disassociated itself from the use of crypto in the country, saying, “investments and trades done using the digital assets will not be welcomed nor approved by them.”

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