Weekly volume of trades on LocalBitcoins in Russia is about $15,27 million (26,5% of global figures). In second place is Venezuela, where, according CoinDance, carried out transactions for more than $7 million (12.2 percent), and three leaders closes US $7 million (11.8 per cent).

Data CoinDance

Data CoinDance

It should be emphasized that in most countries, the trading volume on LocalBitcoins has demonstrated remarkable growth only in the end of 2016 or during the rally 2017, and only in the US indices have steadily increased since 2013.

Data CoinDance

Note that annual inflation in Venezuela has reached almost 200 000%, and the IMF forecast growth figure to 1 000 000% by year-end. From August 20, the country began the denomination of the national currency and the introduction of sovereign Bolivar, allegedly tied to the bitcoin El Petro.

Nevertheless, Russia retains a dominant position on LocalBitcoins in the past few months.

It is noteworthy that five years ago the share of the United States, the United Kingdom and Australia amounted to about 90%, and now less than 20%.

Earlier, the developers of the Russian law “On digital of financial assets”, removed from it, the concept of “mining”.

“We used to think about bitcoin as their “vratiti” in our economic system. Since decided that we don’t need them, these bitcoins incomprehensible, respectively, and mining is not necessary”, — said the Chairman of the Duma Committee on financial market Anatoly Aksakov.