Russia according to Google has the largest population of bears in the world and we all know crypto and bears don't mix very well. Thankfully these bears have nothing to do with crypto and Crypto has been given the green light in Russia at least.
I am sure all of you are well aware of the announcement earlier about Russia seeing crypto as a currency and will treat it as such. I think that is probably bigger news that El Salvador by a long shot as it legitimizes crypto in a first world nation. No disrespect to El Salvador, but there is a huge difference here.
I have a feeling this is how things are going to be played out over the coming years with one country falling to the crypto powers every now and then. I think part of this was Putin showing the rest of the world he doesn't give a damn about their policies and went with the unpopular vote.
I would expect the last bastions to fall will be the United States and certain countries in the EU like the UK. The people in power are afraid of what is coming and why they are not only dragging their heels, but fighting tooth and nail for every inch. These are the delay tactics or more like bully boy tactics fighting off the inevitable.
Every country is watching what the other one is doing as they are that afraid of where this could all lead. I find it amazing we have had Covid restrictions for so long and suddenly everyone is acting as though it is nothing and back to normal. One country makes the move and everyone folds like sheep which should have been the case much sooner. Honestly what has changed in the last 2 months when we saw countries having flight bans and now planes are whizzing over my head tonight on their way to Europe.
What I am trying to say is when change happens it will happen very fast and unfortunately we are not there yet. Russia is not exactly a friend of the West and will do anything to upset their plans. This may have shortened crypto acceptance by a few years which must be seen as a positive.
Russia will according to reports be pushing their Bitcoin miners and opening up new exchanges which is good for everyone involved in crypto. The more places having crypto available to trade via buying and selling is what we all need. Putin will do everything to increase Russia's GDP and Bitcoin mining could be a profitable tax earner. Some suggest this move could be worth $13 billion in increased revenue which means it could be a hell of a lot more with Government support. Recognising crypto as a currency opens up so many new opportunities including high tech businesses now taking notice in Russia.
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A new science hub called Snowflake in the Arctic is under construction and is seen as a future international science hub for biotech, robotic and AI-driven projects.
Russia has an estimated population of 146 million people which is 146 million people who have access to crypto now. I know many probably have no idea what crypto even is so there is a massive learning curve coming. That is the older generation mainly as the youngsters are like us on here being be up to date. I am no youngster but somehow feel younger than the average person just with being involved in this new disruptive technology.
These are exciting times and we have no idea what is going to come next as one minute countries are banning it then they do a 360 saying everything is cool. Maybe China is next who knows as they banned Bitcoin enough times already.
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It is really a great news for the country to accept crypto and gradually the world as well will welcome the impact of cryptocurrency which I know will rule the world with a positive note that it has already started
Russia really doing the most to be the sit of world power. Their recognition of crypto as a currency says a lot about their rapid growth development especially in the cryptosphere and technological advancement as a whole.
I don't see that and only Russia doing the opposite of what the West would want. This is more political than anything else.
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