$BTC #bitcoin #ethereum #bnb BAN OF CRYPTOCURRENCIES

Russian lawmakers have announced that starting September 1, Russia will ban all cryptocurrencies within its borders.

*Exceptions*: The ban excludes state-issued digital financial assets such as digital rubles.

*Reason for ban*:

Anatoly Aksakov, chairman of the State Duma Financial Market Committee, stated that the need for the ban is due to the fact that cryptocurrency is a quasi-currency that replaces the ruble in the country.

*Impact on Crypto Miners*:

The ban allows exceptions for cryptocurrency miners and test projects sponsored by the Central Bank. This is due to the fact that crypto mining provides a significant boost to Russia's economy through increased taxes.