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Uniochange.comCrypto Mining Hardware Sales in Russia Surge Threefold as Moscow Considers 'Light Touch' Regulation
Crypto mining hardware sales in Russia have tripled year-on-year, according to Sergey Bezdelov, head of the Industrial Mining Association. Speaking to Prime news, Bezdelov reported that demand for industrial mining equipment surged threefold in Q4 2024 compared to the same period in 2023.
His comments follow a statement from a top lawmaker suggesting Moscow may ease its stance on crypto regulation. Bezdelov also noted growing foreign interest in Russian mining projects.
In May 2024, Bezdelov had claimed the Russian crypto mining market doubled in size in 2023. He attributed the recent growth to legal changes, including a new law allowing both companies and individuals to mine crypto legally, provided they do not exceed 6,000 kWh of energy consumption per month.
Indian Crypto Exchange Mudrex Suspends Crypto Withdrawals, Draws Community Backlash
Mudrex, an Indian crypto investment platform, halted withdrawals over the weekend, sparking community backlash. The exchange later explained the suspension was to upgrade its compliance systems to prevent bad actors.
Mudrex founder and CTO Alankar Saxena clarified on X that the suspension is temporary and will end by January 28, when crypto withdrawals will resume. He assured users that INR withdrawals remain unaffected and all funds are safe.
Mudrex CEO Edul Patel emphasized the platform's commitment to efficient crypto withdrawals, saying the upgrade aims to streamline the verification process while maintaining high compliance and security standards.
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