If Russia Invites Bitcoin Adoption, The Global Arms Race Will Begin Today

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On February 15, the Russian Ministry of Economic Development signaled a bullish development around Bitcoin; reduced costs for bitcoin miners. But what can we make of this?

First the obvious: yes it is bullish. The Russian Ministry is reportedly considering “energy tariffs” for bitcoin (and other cryptocurrency) miners, as well as taxing cryptocurrency-to-ruble conversions — as long as said facilities are constructed in particular regions (you don’t want bitcoin miners just popping up anywhere, not that they operate in this manner, anyway).

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