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$67B in cryptos, but does that figure change Russia’s mind about crypto-investments
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Russia’s cryptocurrency sector is going through a tumultuous time right now, with the Central Bank of Russia (CBR) doubling down on its efforts to crack down on cryptos in an effort to push its Digital Ruble. Despite this, the digital asset industry in the country appears to be booming, according to a State Duma member.
According to a report by TASS, Anatoly Aksakov, Chairman of the State Duma’s Financial Markets Committee, on Monday said that “some 5 trillion rubles ($67 billion) have already been invested by Russian citizens in cryptocurrency.”
It’s worth noting here that a recent analysis by the CBR found that the annual volume of digital currency transactions made by Russians amounts to just around $5 billion. This was based on estimates
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