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Tag: russia mining regulation
Power Stations Being Purchased in Russia by Private Investors for Cryptocurrency Mining
Category: Bitcoin, Business, Finance, Mining, News, Regulation, Tech
The process of mining cryptocurrencies takes a lot of energy for the high-powered computers to complete the algorithms associated with approving transactions through the blockchain. Moving Public Crypto Mining, Private These expenses are why there have been two electric power stations sold in Russia to private investors for the process of mining cryptocurrency. Both of these plants are located in…
Putin Requests Russian Government to Regulate Bitcoin Mining by Mid-2018
Category: Bitcoin, Mining, News, Regulation
According to a series of orders translated by Motherboard, Russian President Vladimir Putin has tasked the Russian government to introduce regulatory frameworks around bitcoin and cryptocurrencies by mid-2018. Specifically, Putin requested the impose a licensing program for cryptocurrency miners, requiring them to register with the government within the next 12 months. Purpose of Mining Regulations: Taxing Miners Most major bitcoin…
