Weekly news review

🙌🏻Hey, community!

📰At the end of last week, we were stunned by the news that the Bank of Russia intends to ban investments in cryptocurrencies. Now the Central Bank of the Russian Federation is negotiating with market participants and experts. One of the interlocutors of the publication said that if the initiative is adopted, the restrictions will not affect the owners of previously acquired assets.

👥Experts have already expressed their opinion on these prohibitions which come to the conclusion: in the case of a complete ban on cryptocurrencies in the territory of the Russian Federation, their owners will go underground, and the state will lose the ability to collect taxes from this market.

🤝Regardless of the final decision of the Bank of Russia on this issue, DecimalChain will follow the letter of the law and move towards legalization and technology, so the topic of “investing in cryptocurrency” does not really concern us.

In any case, residents of the Russian Federation will continue to use cryptocurrencies and this will not affect the volume of transactions in any way.

⚙️At the same time, the demand of residents of the Russian Federation for equipment for mining cryptocurrencies in 2021 has increased significantly. Over the year, the interest of Russians in ASIC miners has increased by an average of 14 times, and the supply has increased by 13 times. The leaders of sales following Moscow and St. Petersburg were the Krasnodar Territory, Tatarstan and the Sverdlovsk region.

Perhaps in this regard, Russian regions have received the right to set electricity tariffs for the population depending on the volume of consumption. It is expected that the amendments will help in the fight against cryptocurrency miners illegally connecting to power grids in the residential sector. Therefore, it would be advisable to switch to mining PoS and DPoS coins, such as DEL.

💰Meanwhile, the prototype of the digital ruble platform is ready, as stated by the first deputy chairman of the Bank of Russia Olga Skorobogatova. The Central Bank of the Russian Federation will begin testing operations with digital currency as part of the first stage of the pilot with 12 banks in January. It is expected that the digital currency from the Central Bank will be launched before 2030.

🙌🏻Have a great weekend and only positive news!