Recently, Russian President Vladimir Putin has approved a bill that officially recognizes cryptocurrency mining in the nation. According to Ki Young Ju, CEO of CryptoQuant, “Russia appears to be taking steps to keep pace with the United States. The country’s growing interest in Bitcoin at a national level is becoming more evident.” Ju believes that Russia’s involvement in the mining industry will increase the hashrate, enhance network fundamentals, and introduce new dynamics to miner politics.
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