The query is while so as to manifest, Commerce Minister Denis Manturov stated as new cryptocurrency law changed into provided to the State Duma this week.
Bitcoin is on a wild ride. The world's largest cryptocurrency skyrocketed to $68,990 last November. It now sits around $29,000, a staggering 58% drop from the peak.
Cryptocurrency exchange company Coinbase suffered a major disruption as the value of digital coins plummeted. The company's value has also fallen, with its shares falling 60% this week alone.
Norway has now almost finally decided to legalize the mining of cryptocurrencies, because the Norwegian parliament rejected a corresponding ban proposal by a majority this week.
As Bitcoin has won millions of hearts economically and financially, policymakers and major financial institutions have continued to warn investors of the ripple effects its volatility could cause.
Bitcoin (BTC) mining is one of the most energy-intensive hobbies you can have. That's enough energy to create large-scale mining facilities for this very purpose.