💥Russia is banning crypto!

#Russia is implementing a #crypto ban to strengthen the #ruble amidst escalating geopolitical tensions and widening sanctions.

The proposed bill will include exceptions for crypto miners and Central Bank-sponsored test projects, forming an experimental legal framework. Because crypto mining plays a crucial role in Russia's tax revenues, generating over $2.59 billion for foreign trade settlements, according to Statista data...

So, we will see how these hypocritical bans affect crypto usage in Russia but one thing for sure... we have to endure bear market for longer than we thought.