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Putin's Economic Advisor: Cryptocurrency Should Be Included in Balance of Payments, Bitcoin Mining Becoming 'Undervalued Export'
Summary: According to reports, Maxim Oreshkin, economic advisor to Russian President Putin, stated that cryptocurrency should be included in Russia's balance of payments statistics, and pointed out that Bitcoin mining is becoming a 'undervalued export' for the country. He mentioned that some Russian companies are using cryptocurrency for cross-border payments, selling the mined Bitcoin for profit, ...
According to reports, Maxim Oreshkin, economic advisor to Russian President Putin, stated that cryptocurrency should be included in Russia's balance of payments statistics, and pointed out that Bitcoin mining is becoming a 'undervalued export' for the country. He mentioned that some Russian companies are using cryptocurrency for cross-border payments, selling the mined Bitcoin for profit, which has a real impact on the foreign exchange market.
According to Luxor Technology data, Russia currently accounts for nearly 16% of global hash rate, second only to the United States. Sergey Bezdelov, Chairman of the Russian Industrial Mining Association, stated that Russian miners are expected to produce around 55,000 BTC in 2023, with production decreasing to around 35,000 BTC in 2024 due to halving. (DL News)
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Link: Putin's Economic Advisor: Cryptocurrency Should Be Included in Balance of Payments, Bitcoin Mining Becoming 'Undervalued Export' [Copy]
