Category: Russia

Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be wasted. Ministries and Central Bank Review […]

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Russian oil industry asks regulators to let them mine crypto using wasted flare gas

Russian oil industry asks regulators to let them mine crypto using wasted flare gas

Russian regulators are considering a push from oil and gas firms, seeking authorization to mine cryptocurrencies using natural gas that is otherwise wasted in oil drilling. Per an October 20 report from business outlet Kommersant, the Russian Central Bank, Ministry of Industry and Trade and Ministry of Digital Development are discussing authorization for oil industry […]

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Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future

Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future

Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even digital assets in the future. Foreign Ministry Official Sees Russia Acquiring […]

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Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners

Russia, Belarus Move to Introduce Special Electricity Tariffs for Crypto Miners

Authorities in Belarus and the Russian Federation are taking steps to separate cryptocurrency miners from other groups of power users and deny them access to subsidized energy. This could lead to the adoption of differentiated electricity rates for businesses involved in digital coin minting activities. Cryptocurrency Miners in Russia and Belarus May Face Higher Energy […]

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Ukraine Is the Most Crypto-Aware Country Followed by Russia and the US: Survey

According to a resent research, the population of the Eastern European state – Ukraine – is the most interested in digital assets. Russia and the USA ranked respectively second and third. Surpassing The Giants The cryptocurrency brokerage firm BrokerChooser took into account several factors such as the total number of digital asset owners and the […]

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Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value

Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value

Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value […]

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Biden’s ransomware summit calls for better cyber hygiene

Biden’s ransomware summit calls for better cyber hygiene

The White House released a joint statement on behalf of representatives of 32 countries who convened virtually yesterday and today to talk ransomware.  There were a number of takeaways, but central were the essentials of prevention. As the statement put it:  “These basic steps include maintaining offline data backups, use of strong passwords and multi-factor […]

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Putin suggests openness to moving energy trade to crypto from dollar in the future

Putin suggests openness to moving energy trade to crypto from dollar in the future

Russian President Vladimir Putin is publicly showing more openness to crypto’s role in the country’s future, particularly in the international energy markets on which Russia’s economy depends. In an interview with CNBC’s Hadley Gamble for Russia’s Energy Week, Putin addressed the possibility of eventually shifting oil contracts off of the dollar and onto other currencies, […]

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President Putin: Cryptocurrencies Can One Day Serve as Unit of Account

President Putin: Cryptocurrencies Can One Day Serve as Unit of Account

The president of the Russian Federation, Vladimir Putin, has recently aired his view on cryptocurrencies, admitting that they can serve as a medium of exchange and cross-border payments. In an interview with CNBC, which was published in full on the Kremlin website, he noted that bitcoin and other cryptocurrencies could one day be used as […]

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Breaking: Vladimir Putin Says Cryptocurrencies Can Become Legitimate Payment Currency

Vladimir Putin, the President of Russia seems to be in favor of cryptocurrencies and their use in the payment sector. In a recent interview with CNBC, Putin said crypto-assets  “has the right to exist and can be used as a means of payment,” Russian President’s pro-crypto stance came as a surprise to many given Russian […]

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