Russiahttps://findnextcrypto.com/russia-to-ban-cryptocurrencies/ is planning to ban cryptocurrencies in Russia. Russia’s central bank proposed banning the use and mining of cryptocurrencies on Russian territory. Russia is the world’s third-largest player in bitcoin mining. Russa legalize cryptocurrencies in 2020 but banned their use as a means of payment.

The Bank of Russia said crypto mining created problems for energy consumption as Russia is one of the largest crypto-miner in the world. Meanwhile, The central bank is planning to issue its own digital rouble. The proposed ban includes crypto exchanges too.

As the crypto market is down falling, it is interesting to see the impact of Russia’s ban ( If implemented) in the crypto world.