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Unlike Ukraine, its heavily fortified neighbor is threatening to ban cryptocurrency usage and mining owing to its energy intensive nature, its price volatility, and the threat it poses to Russia’s currency, the ruble. While Russia’s central http://alexismcrf209754.blogs100.com/13489404/neobtc, bank calls for an outright ban Russia’s finance ministry has voiced its opposition to such a blanket move, Ukraine https://waylonwlao532087.blog2freedom.com/10906419/how-much-for-1-bitcoin has long positioned itself as a crypto-friendly country, Bornyakov told Fortune. As their popularity rises, digital currencies have been the target of many multimillion dollar scams in recent history. Between January and July, crypto accounted for $681 million in scam losses, according to a report from cryptocurrency intelligence firm CipherTrace. To lay the groundwork for the transition, the government spearheaded development of technology that would make it possible for citizens to buy and sell using Bitcoin, including a digital wallet called Chivo. Chivo literally means "goat" in Spanish but is also Salvadoran slang for "cool." Users could use the Chivo Wallet to receive or send cryptocurrency funds —think Venmo or Paypal, but for Bitcoin. The government has refused to provide many details about the corporation that developed and owns this technology, but Rest of World has interviewed some of the private firms involved with the rollout. A U.S.-based cryptocurrency company, Athena Bitcoin, plays the largest role.