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Putin Backs Crypto Mining Despite Bank of Russia’s Hard Line

  • Bank of Russia proposed total ban on crypto mining and trading
  • Russia is the third-biggest miner, after U.S. and Kazakhstan
An engineer inspects racks of mining devices at a cryptocurrency mining farm in Norilsk, Russia.

An engineer inspects racks of mining devices at a cryptocurrency mining farm in Norilsk, Russia.

Photographer: Andrey Rudakov/Bloomberg
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President Vladimir Putin backs a Russian government proposal to tax and regulate mining of cryptocurrencies, rejecting the central bank’s proposal to ban it completely, according to three people familiar with the matter.