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ARTICLE · 20 FEBRUARY 2018

TRuble In Russia - Will Crypto Soon Be Legal Tender?

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A friend's 16 year old son and his schoolmates are using pocket money to buy Bitcoin mining hardware.

RussiaTechnology
Tatiana Menshenina
Tatiana Menshenina
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A friend's 16 year old son and his schoolmates are using pocket money to buy Bitcoin mining hardware. Several engineers at the Russian Federal Nuclear Centre have been arrested for attempting to use one of Russia's largest supercomputers for Bitcoin mining – Interfax reports on 9 February. What is going on?

Crypto is big news in Russia, as it is in all developed countries. Forbes, for the first time, recently published ratings of those who made their wealth in cryptocurrencies. The list contains 19 names. Number 17 is the Russian Vitalik Buterin, aged 24, who created Etherium ($81 billion capitalisation). His crypto net-worth is now estimated at $400-500 million.

Number 13 in the list is Valery Vavilov, "the Digital Gold Miner", born in the USSR, founder of the BitFury Group now based in Amsterdam. BitFury produce software and hardware solutions for businesses, governments, organisations and individuals to securely move assets across the Blockchain. His crypto

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