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The presentation of the report of the Central Bank of the Russian Federation that the cryptocurrency segment should be controlled to the strictest degree caused a sharp reaction from investors.
Some of them have already changed their minds about entering the Russian market, while others are thinking about diversification. If cryptocurrencies, mining of cryptocurrencies is still banned, this will lead to the flight of specialists, the budget may lose tens of billions of rubles in revenue.
However, while the price of oil is high, as is the price of gas, the loss of some 50 billion rubles is not at all critical for the federal budget. According to BWG UG, they are suspending the commissioning of their data center network, and most likely the sites will have to be developed according to a different scenario.
The TerraCrypto mining community indicates that industry players are thinking about diversifying, and there are already requests to host equipment in Iceland and Canada. Companies do not want to be hostages of the political situation, because then no one will provide them with compensation.
The company ENCRY also reported that foreign investors were very wary of the report of the Central Bank. Numerous requests from investors began to arrive, what the situation will be in the future. Investors are waiting for the situation to be more certain.
At the same time, the report of the Central Bank does not mean at all that mining will be banned in a few weeks, such statements are already used to. Therefore, one should not expect that all foreign investors will leave the Russian market. Requests for placement of equipment continue to come in.
In addition, it is unlikely that the authorities will be able to really ban mining as an activity. They will work underground, steal electricity, and no repressive measures will be enough to block mining completely.
If transparent rules of the game are introduced, tax rates are set, then the budget will be able to make a profit of tens of billions of dollars a year. What decision will be made in the end, it will most likely become clear in the spring. While the federal authorities are busy with other issues, and mining is not on the agenda.
Author: Vadim Gruzdev, analyst at Freedman Сlub Crypto News
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