Putin Signs Law Supporting Crypto Mining: Russia Enters Legalization Era

Putin Signs Law Supporting Crypto Mining: Russia Enters Legalization Era

On August 8th, Russia officially passed a bill legalizing Bitcoin mining. Putin even praised the move, stating, "Cryptocurrencies have a promising future, and Russia must seize this opportunity."

For a long time, Russian mining has been stereotyped as unreliable, with assets at risk of being lost or businesses suddenly disappearing. However, the signing of this new bill will have a profound impact on both the Russian mining industry and the global mining industry.

So what will be the potential Changes in the Cost Structure of the Future Mining Industry
1：Increase in Electricity Costs
2：Increase in Trade Costs
3：Demand for Licenses and Permits

Putin’s signing of the law undoubtedly marks a new era for the legalization of mining in Russia. Perhaps the next major mining power center will be Russia.

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