The number of mining companies in Russia has increased by 15%, and a new industry bill may be introduced in the fall

The Russian cryptocurrency industry is expanding, with the number of businesses operating mining facilities increasing this year and Russians owning more digital currencies. According to the Russian Federation Association of Cryptocurrency and Blockchain (RACIB), the number of crypto mining companies increased by 15% to 75,000 in the first half of 2018. The newly released data has clearly confirmed that the Russian cryptocurrency industry is developing rapidly despite the lack of comprehensive regulations. The finalization of three bills aimed at promoting the legalization of cryptocurrency trading and activities has been postponed to the autumn session of the State Duma, the lower house of the Russian parliament.