Vladimir Putin Said Crypto Mining is Giving Competitive Advantage to Russia 🇷🇺

📣 #VladimirPutin Said Crypto Mining is Giving Competitive Advantage to #Russia 🇷🇺

👉 Russian president Vladimir #Putin has given crypto enthusiasts a glimmer of hope for the future of #digitalassets in the country, which have been under threat from a recent push to ban cryptocurrencies and #mining.

👉 He also called on the country’s Central Bank to meet with his government in the near future so that they might come to a consensus on the use of crypto.

👉 According to analysts, in spring 2021, the price of electricity in Russia was $0.06 per kilowatt-hour for household use and $0.08 for business, compared to #France, which is four times more expensive than in Russia.

👉 Russian Finance Minister Ivan Chebeskov responded with opposition to the proposed blanket ban, calling for regulation rather than restriction. He highlighted that a crypto ban would cause the country to fall behind the worldwide tech industry.

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