Russia doesn’t explicitly ban cryptocurrency transactions; there’s a legal grey area regarding their use in commerce. The Central Bank’s stance is that crypto operations aren’t illegal, but they are viewed with suspicion and treated with heavy scrutiny due to money laundering and tax evasion concerns. This means businesses face significant uncertainty when dealing with crypto. While technically permissible as an investment, the regulatory ambiguity makes it a high-risk venture for companies operating within the country.
Practical implications for traders are significant. While you can technically hold crypto as an investment, using it for business transactions is exceedingly complex, requiring meticulous compliance procedures. Expect strict reporting requirements and potential legal issues if not handled perfectly. The lack of clear regulation fosters uncertainty and volatility in the Russian crypto market, making it potentially far less liquid and more prone to manipulation than regulated markets elsewhere.
For investors, this means limited accessibility to established crypto exchanges and payment gateways commonly found in other countries. Transactions are generally more cumbersome and opaque. The regulatory climate promotes a higher degree of self-reliance and responsibility on the part of investors, requiring extensive due diligence and risk assessment.
What factors influence migration processes?
Migration factors can be categorized into push and pull factors. Push factors, akin to a bearish market dumping your crypto portfolio, force individuals to leave their current location. These include:
- Poverty & Low Wages: Think of it like a stablecoin losing its peg – a devaluation of your living standards.
- Overpopulation: Similar to network congestion slowing down transactions, too many people competing for limited resources.
- High Unemployment: A missed opportunity for staking rewards; no income generation.
- Environmental Disasters: A sudden, unforeseen “rug pull” from Mother Nature, destroying your assets and livelihood.
- Wars & Conflicts: A complete market crash, forcing you to liquidate everything and flee for safety. Consider it a total loss of your investment in a region.
- Persecution: Being forced to abandon your holdings due to censorship or authoritarian regimes clamping down on freedoms.
Interestingly, the flow of migrants often mirrors capital flows. Areas experiencing significant push factors frequently see a corresponding outflow of financial capital, resembling a bear market sell-off. Conversely, areas with strong pull factors attract both people and investment, similar to a bull market with increased capital inflows.
Understanding these factors is crucial for analyzing demographic trends and, in some ways, parallels understanding macroeconomic indicators which influence investment decisions in volatile markets like crypto.
Is it possible to legalize cryptocurrency income in Russia?
Technically, you can legalize cryptocurrency income in Russia as a business. The law doesn’t explicitly prohibit cryptocurrency mining or trading, but it lacks specific tax regulations. This means you’re essentially operating in a gray area. While you can receive payments in crypto, reporting income and paying taxes can be tricky, often relying on general income tax laws and potentially facing ambiguous interpretations. Consult a tax professional specializing in cryptocurrency to navigate the complexities and avoid potential penalties. Many interpret this legal ambiguity as a need for clear, dedicated cryptocurrency tax laws, similar to those found in more crypto-friendly jurisdictions. The current situation encourages careful record-keeping of all transactions to demonstrate compliance with existing (though vague) tax legislation.
What influenced the migration?
Migration, a fundamental human behavior, transcends eras. Historically, individuals and groups have moved in search of better lives, driven by factors as diverse as war and conflict, famine and poverty, and the pursuit of economic opportunity. This inherent human desire for improvement mirrors the decentralized ethos of cryptocurrency. Just as individuals seek financial freedom through crypto, historical migrations represent a search for broader freedoms – from religious persecution and political oppression to the simple desire for a fresh start and new opportunities. Consider the Silk Road, a historical trade route facilitating cultural exchange and migration, analogous to the borderless nature of crypto transactions. The inherent volatility of both crypto markets and migratory patterns reflects the ever-shifting landscape of risk and reward. Analyzing historical migration flows can offer valuable insights into the human reaction to scarcity and opportunity, just as understanding market cycles informs cryptocurrency investment strategies. Both are shaped by unpredictable events and the constant pursuit of a better future, a future increasingly facilitated by technology – whether it’s the technology of seafaring or the technology of blockchain.
The motivations remain consistent throughout history: escaping persecution, finding better economic prospects, and securing a more stable and prosperous future. This inherent human drive for self-improvement and a better life, a core tenet of decentralized finance, is the underlying force behind both historical migrations and the modern crypto movement. The ability to move assets freely, geographically or digitally, remains a constant theme connecting seemingly disparate events across time and space. The parallels between the search for a better life and the pursuit of financial freedom are striking.
What are the penalties for cryptocurrency in Russia?
The Russian legal landscape surrounding cryptocurrency is complex and constantly evolving. While outright possession of cryptocurrency isn’t illegal, various activities related to it carry significant penalties.
Failure to Report Crypto Transactions: This is a serious offense. Penalties can reach a hefty 30% of the transaction value. This applies to both individuals and entities, highlighting the importance of meticulous record-keeping and transparent reporting. The definition of a “transaction” is broad and can encompass various activities, including exchanges, lending, and staking.
Know Your Customer (KYC) and Anti-Money Laundering (AML) Compliance Failures: Russia, like many countries, is cracking down on illicit financial activities. Non-compliance with KYC/AML regulations, which mandate client identification and verification, results in steep fines. Legal entities face penalties up to 500,000 rubles. Failure to implement robust KYC/AML procedures puts businesses at considerable risk.
Improper Record-Keeping of Crypto Transactions: Maintaining accurate and complete records of all cryptocurrency transactions is crucial. Failure to do so leads to substantial penalties. Individuals risk fines of up to 200,000 rubles, while legal entities could face penalties as high as 1 million rubles. This underscores the need for comprehensive accounting practices specifically designed for digital assets.
Beyond Direct Penalties: It’s important to note that these are just the direct penalties. Indirect consequences can include reputational damage, operational disruption, and potential legal battles. The legal framework is still developing, so staying informed about updates and seeking professional legal advice is essential for anyone involved in cryptocurrency activities in Russia.
- Key takeaway: Compliance is paramount. Understanding and adhering to Russia’s evolving cryptocurrency regulations is crucial to mitigating legal risks.
What did Putin say about cryptocurrency?
Putin’s recent decree effectively bans the public offering of cryptocurrencies in Russia. The law, targeting the public offering and circulation of digital currencies, essentially outlaws the use of crypto as a medium of exchange within the country. This isn’t a total crypto ban, however, as it focuses on preventing wide-scale adoption and trading of crypto. Mining itself remains somewhat ambiguous, the focus is on the prohibition of offering cryptocurrencies to the general public.
This means:
- No public ICOs or STOs: Russian companies can’t legally raise funds through cryptocurrency offerings aimed at the general public.
- Limited trading: While individual ownership of crypto might not be explicitly illegal, trading platforms face significant hurdles, and peer-to-peer trading becomes more risky and less accessible.
- Focus on preventing widespread adoption: The government’s goal is likely to curb the potential challenge cryptocurrencies pose to the ruble and the central bank’s control over monetary policy.
Implications for investors:
- Expect volatility in the Ruble.
- Russian crypto projects may relocate to more crypto-friendly jurisdictions.
- Increased regulatory uncertainty creates risk for investors, both domestic and international, involved in any Russian crypto-related activity.
Important Note: This information is for general knowledge only and does not constitute financial advice. Always conduct thorough research before making any investment decisions.
Why is it not possible to buy cryptocurrency in Russia?
Buying cryptocurrency in Russia is tricky because of a new law. The law, passed on January 1st, 2025, basically says crypto is a type of digital currency, but you can’t use it to pay for things.
What does this mean? You can’t use Bitcoin to buy a coffee in Russia. It’s illegal to use crypto as a means of payment for goods and services.
But there’s a loophole! The law does allow you to invest in cryptocurrency. This means you can buy and sell cryptocurrencies, hoping their value will go up.
Important considerations:
- Tax implications: Any profit you make from trading crypto is likely taxable in Russia. You’ll need to understand the tax rules.
- Regulatory uncertainty: The legal framework around crypto in Russia is still evolving. Regulations could change, creating uncertainty for investors.
- Exchange restrictions: Many international cryptocurrency exchanges may not service Russian users due to sanctions or regulatory complexities.
- Risks of scams: The unregulated nature of the market increases the risk of encountering fraudulent exchanges or investment schemes.
Essentially, while you can’t use crypto to buy everyday things, you can still invest, but be aware of the legal and financial risks involved.
What are the risks of using cryptocurrencies?
Investing in cryptocurrencies presents a multitude of risks, exceeding those found in traditional markets. Security breaches are paramount; loss of private keys renders funds irretrievable. This includes not only direct hacking but also sophisticated social engineering attacks aiming to trick users into revealing their seed phrases or private keys. Phishing scams and malware are increasingly prevalent.
Exchange risk is another major concern. Exchanges, acting as custodians of vast sums of cryptocurrency, are vulnerable to hacking, and historically have experienced significant breaches leading to substantial user losses. Furthermore, the regulatory landscape is fragmented and evolving, posing risks of regulatory crackdowns, impacting accessibility and potentially even leading to the freezing or confiscation of assets. The operational risks of exchanges, including outages, bugs, and insufficient security measures, should also be considered.
Volatility is inherent to cryptocurrencies, resulting in substantial price swings. Market manipulation, particularly in less liquid markets, can exacerbate these price fluctuations, leading to significant and sudden losses. Additionally, the lack of regulatory oversight in many jurisdictions contributes to market instability and increases the potential for fraud and manipulation.
Smart contract risks, relevant to DeFi (Decentralized Finance), represent a unique set of challenges. Bugs in smart contract code can lead to significant financial losses through exploits or unintended functionality. Auditing smart contracts before interaction is crucial but not always a guarantee of security.
Finally, regulatory uncertainty globally poses an ongoing risk. Changes in tax laws, licensing requirements, or outright bans in certain jurisdictions could significantly impact cryptocurrency investments and their accessibility.
How can I avoid falling under the scope of the Russian Federal Law No. 115 regarding cryptocurrencies?
Navigating the complexities of 115-FZ concerning cryptocurrency P2P transactions requires a nuanced approach. Avoid raising red flags by gradually increasing transaction volumes; sudden spikes in frequency or amounts are a major warning sign. Maintain meticulous records, documenting the purpose of each transfer and providing clear explanations for payment designations. Crucially, P2P platforms are for personal use only; avoid leveraging them for business activities. Due diligence is paramount; thoroughly vet your counterparties to mitigate risks. Always operate within established transaction limits and stay informed about regulatory updates, as these are subject to change.
Understanding the nuances of KYC/AML compliance is essential. While P2P often offers a degree of anonymity, complete transparency isn’t necessarily beneficial; overly meticulous record-keeping can be as suspicious as a lack thereof. The key is a balance – enough documentation to explain your activity without revealing more than necessary.
Diversify your transaction methods and counterparties. Relying on a single platform or individual creates a significant vulnerability. Spreading your activity reduces the risk of detection and minimizes potential losses.
Consider using privacy-enhancing techniques, such as mixers or tumblers (while acknowledging the inherent risks and legality of these tools in your jurisdiction). Remember that even with these precautions, there’s always a level of inherent risk involved in cryptocurrency transactions. Staying abreast of legal changes is crucial; what’s permissible today might be flagged tomorrow.
Is it permissible for a public official to purchase cryptocurrency?
Government employees face limited cryptocurrency investment restrictions. While direct investment in foreign securities and fund units is prohibited, encompassing even assets issued by foreign subsidiaries of domestic companies, the key takeaway is the explicit ban on foreign CBDCs and cryptocurrencies. This means that holding Bitcoin, Ethereum, or other major cryptocurrencies, as well as stablecoins issued outside the country, is generally forbidden. However, the specifics of these restrictions can vary considerably based on the employee’s position, level of security clearance, and the country’s specific regulations. It’s crucial to consult the relevant internal guidelines and potentially seek legal advice to ensure compliance.
The ban on foreign crypto assets stems from concerns about potential conflicts of interest, transparency issues, and the inherent volatility of the cryptocurrency market. Regulatory scrutiny of crypto is evolving rapidly, and navigating these restrictions requires constant vigilance and a clear understanding of your jurisdiction’s compliance framework. The potential for sanctions and reputational damage for non-compliance emphasizes the need for caution.
While domestic cryptocurrency investments may not be explicitly banned, employees should still exercise prudence. Transparency is key. Any cryptocurrency holdings should be declared as part of broader financial disclosures. Moreover, the potential for conflicts of interest still exists, even with domestic crypto, if the employee’s work involves any aspect of financial regulation or policy.
Why does Russia prohibit cryptocurrency mining?
Russia’s recent moratorium on cryptocurrency mining in ten key regions until 2031, citing excessive energy consumption, presents a complex situation. This isn’t a blanket ban on mining nationwide, but a targeted restriction impacting energy-intensive regions like Dagestan, North Ossetia, and Chechnya. The January 1st, 2025 implementation date and six-year duration suggest a deliberate strategy aimed at curbing energy demand during a period of potential instability.
Geopolitical Implications: This move reflects Russia’s attempts to manage its energy resources, particularly amidst ongoing geopolitical tensions and sanctions. Restricting mining reduces pressure on the national grid, allowing resources to be diverted elsewhere.
Market Impact: The short-term impact on the crypto market will depend on the mining hashrate affected. While the regions targeted may represent a significant portion of Russia’s mining activity, it’s not a complete shutdown. Mining operations may relocate, potentially impacting global energy consumption patterns and hashrate distribution. Long-term effects are uncertain and depend on future regulatory decisions.
Regulatory Uncertainty: The six-year timeframe indicates a lack of definitive long-term policy. This uncertainty could deter further investment in Russian mining infrastructure, creating a climate of risk for investors and miners alike. The situation warrants close monitoring for any shifts in regulatory stance.
Alternative Strategies: The Russian government may explore alternative energy sources for future mining operations or favor projects employing more energy-efficient mining techniques. This development could potentially impact the broader adoption of sustainable practices in the crypto mining sector globally.
What are the dangers of cryptocurrency arbitrage?
Crypto arbitrage sounds easy: buy low, sell high on different exchanges. But it’s risky! A major danger is losing money because the crypto’s price drops while you’re transferring it between exchanges. This could happen because of exchange downtime, a blockchain transaction getting stuck (confirmation times vary wildly), or simply because you were too slow.
Think of it like this: you find Bitcoin cheaper on Exchange A ($29,000) than on Exchange B ($30,000). You buy on A, but transferring to B takes time. If Bitcoin’s price suddenly plunges to $28,000 before your transfer completes, you’ll sell at a loss even though you initially found a price difference. This is called impermanent loss in a broader DeFi context, but applies here too.
Other risks include: high transaction fees eating into your profits (especially with high gas fees on certain blockchains), security vulnerabilities (losing your crypto to hacks or scams), and regulatory uncertainty (laws around crypto trading change constantly).
Speed is crucial. Even small price swings can wipe out your profit margin if the transfer takes too long. You need fast, reliable internet, and ideally, accounts on exchanges with quick transaction speeds.
What factors influence the magnitude of migration flows?
Migration flows, much like market trends, are driven by a complex interplay of factors. Think of it as a confluence of “buy” and “sell” signals for human capital.
Economic factors are paramount. High unemployment in origin countries (the “sell” signal) and labor shortages or higher wages in destination countries (the “buy” signal) create powerful incentives. This often manifests as a “flight to quality” – individuals seeking better economic opportunities.
- Push factors: Poverty, lack of jobs, low wages, economic instability.
- Pull factors: Higher wages, job opportunities, economic growth, better living standards.
Demographic factors are equally significant. Age structure, population density, and birth rates all influence migration patterns. A young, rapidly growing population may experience higher emigration rates due to limited opportunities. Conversely, aging populations in developed countries may see increased immigration to fill labor gaps – a crucial dynamic in many developed nations today.
Political and social factors can be volatile market movers. Political instability, persecution, war, or even changes in immigration policies can dramatically impact migration flows. This can create sudden and substantial shifts, much like a flash crash in the market. Consider the impact of political upheaval or even a sudden change in visa requirements.
Environmental factors, increasingly, are playing a more pronounced role. Climate change, natural disasters, and environmental degradation can create “climate migrants,” forcing populations to relocate due to uninhabitable conditions. This emerging trend represents a new and potentially massive migration wave, one that is particularly difficult to model due to its unpredictable nature.
- Macroeconomic indicators: GDP growth, inflation, interest rates – all impact individual migration decisions.
- Geopolitical events: Wars, political instability, refugee crises – all create sudden and dramatic spikes in migration.
- Network effects: Existing migrant communities often facilitate further migration from their home countries.
Understanding these interwoven factors is key to analyzing migration trends, much like a seasoned trader dissects market data. Predicting precise flows remains challenging, however, given the complexity and often unpredictable nature of the influencing variables.
What five factors influence migration?
Five factors influencing migration can be framed like this: Economic factors (job opportunities, wages, cost of living – think of it like the price of Bitcoin affecting your ability to relocate for better opportunities), Social factors (family ties, community, cultural attractions – imagine finding a vibrant crypto community in a new city), Political factors (war, persecution, political stability – a stable government is like a stable blockchain, offering security), Demographic factors (population density, age structure – a young, growing city can attract migrants, much like a newly launched promising cryptocurrency project), and Environmental factors (natural disasters, climate change – think of it like a “51% attack” on your living environment forcing relocation).
These factors are categorized as push (forcing people to leave) or pull (attracting people to a new location) factors. For example, a lack of economic opportunity (push) might drive people to an area with plentiful jobs (pull). Similarly, a government crackdown on cryptocurrencies (push) might lead people to move to a crypto-friendly jurisdiction (pull).
What are the consequences of cryptocurrency mining in Russia?
Mining crypto in Russia? Let’s be clear: it’s a legal minefield. The biggest risk isn’t necessarily about the crypto itself, but the electricity. Article 165 of the Russian Criminal Code targets illegal power consumption. Think hefty fines, and potentially even jail time, if you’re caught using significant amounts of power without proper authorization or payment. This isn’t just about a few rigs in your basement; industrial-scale operations are especially vulnerable.
Beyond Article 165, consider the potential for tax evasion charges. Profits from mining are taxable income, and failing to declare them can lead to serious consequences. Furthermore, the regulatory landscape is constantly shifting. What’s permissible today might be illegal tomorrow. Due diligence isn’t optional; it’s survival. Thoroughly research current Russian laws and regulations concerning crypto mining and energy usage before you even think about powering up a single ASIC.
Remember, the rewards might seem lucrative, but the risks in Russia are substantial and often underestimated. Ignoring these legal complexities could cost you far more than any crypto gains.
Is it possible to have a cryptocurrency wallet in Russia?
The legal landscape surrounding cryptocurrencies in Russia is complex. While using crypto as a means of payment is prohibited, owning and trading cryptocurrencies isn’t illegal. This creates a situation where individuals can hold crypto wallets, but their usage is limited to non-payment related activities like trading or holding assets.
Key Differences from other Jurisdictions: The Russian approach contrasts sharply with countries like Japan, which in 2017, officially recognized cryptocurrencies as a legitimate payment method. This highlights the vastly different regulatory approaches taken globally.
What this means for Russian crypto users:
- Legal Ownership: You can legally own cryptocurrencies in Russia.
- Illegal Payments: Using crypto for purchases of goods or services is against the law.
- Tax Implications: While ownership isn’t illegal, gains from trading cryptocurrencies are likely taxable. Consult with a tax professional for specific guidance.
- Exchange Regulations: Exchanges operating in Russia are subject to their own set of regulations, often requiring KYC/AML compliance.
Potential Risks:
- Regulatory Uncertainty: The regulatory environment may change, potentially impacting the legal status of crypto ownership in the future.
- Enforcement Challenges: While illegal, enforcement of the prohibition against using crypto as payment might be challenging given the decentralized nature of cryptocurrencies.
- Security Risks: As with any digital asset, holding crypto in a wallet carries inherent security risks, including the risk of theft or loss.
Disclaimer: This information is for educational purposes only and does not constitute financial or legal advice. Always conduct your own research and consult with professionals before making any decisions related to cryptocurrencies.
Is Binance banned in Russia?
Binance’s situation in Russia is complex and evolving. While not outright banned, access has been significantly restricted. In March 2025, they blocked Russian residents from purchasing EUR and USD via their P2P service, a move that effectively limited ruble access for European users.
Key takeaway: This wasn’t a complete ban, but a major limitation on fiat on-ramps for Russian users. This significantly impacted the ability of Russian users to buy crypto using traditional currency.
The situation escalated in September 2025 with Binance’s announcement of a full withdrawal from the Russian market and the sale of its Russian business to CommEX. CommEX is a relatively new platform, so its future and reliability remain to be seen.
- Implications for traders: Russian users now face more hurdles accessing Binance services, potentially driving them to other, potentially less regulated, exchanges. This could increase risks related to security and compliance.
- Regulatory uncertainty: The sale to CommEX highlights the ongoing regulatory challenges faced by crypto exchanges operating in Russia, where the regulatory landscape is constantly changing.
- Due diligence is crucial: If you are a Russian user considering using CommEX, thorough research into the platform’s security, licensing, and reputation is essential before using it.
Important Note: Always prioritize security and compliance when choosing a cryptocurrency exchange. The situation in Russia underscores the volatility and uncertainty inherent in the crypto market and the importance of staying informed about regulatory changes.
Is Binance legal in Russia?
Binance’s status in Russia is complex and has undergone significant changes. While not explicitly banned, the exchange has taken considerable steps to distance itself from the Russian market. In March 2025, Binance restricted Russian residents from purchasing Euros and US Dollars via its peer-to-peer (P2P) service, a move mirroring similar restrictions imposed on European users purchasing Rubles. This signaled a significant shift in their operations within the country.
The most recent development came in September 2025, with Binance announcing its complete withdrawal from Russia and the sale of its Russian operations to CommEX. This sale, finalized shortly after CommEX launched, effectively ends Binance’s direct involvement in the Russian crypto market. It’s important to note that the legal implications for Russian users remain unclear, although it is likely to create difficulties in accessing services.
This situation highlights the evolving regulatory landscape for cryptocurrency exchanges globally, particularly in regions facing geopolitical uncertainty and sanctions. The restrictions imposed by Binance, followed by their complete exit, illustrate the challenges faced by large exchanges in navigating complex international regulations and maintaining compliance. Users should always be aware of the legal and regulatory environment in their location when using cryptocurrency exchanges and consider the potential risks involved.
The transition to CommEX is a key aspect to follow. This new platform will inherit the Russian user base and operations, and its future actions will greatly impact the accessibility of cryptocurrency services for Russian users. Whether CommEX will face similar regulatory pressures remains to be seen. Moreover, this situation underscores the volatility of the crypto market and the importance of diligent due diligence before engaging with any platform.
Why is arbitration dangerous?
Spot-futures arbitrage in crypto, while potentially lucrative, carries significant risk. The core danger lies in the unpredictable nature of cryptocurrency markets. Unexpected price surges in the underlying asset can quickly turn profitable trades into substantial losses. If the spot price rises above the futures price (a situation known as contango becoming extreme), closing your futures position to profit from the price difference will actually result in a net loss because you’ll be buying high (spot) to cover your short futures position.
This risk is amplified by the volatility inherent in cryptocurrencies. Unlike more established markets, crypto’s price swings can be dramatic and swift, making accurate price predictions extremely difficult. A seemingly small price gap between spot and futures can vanish in minutes, leaving arbitrageurs holding significant losses.
Furthermore, liquidity issues can exacerbate the problem. Finding a buyer for your spot asset to cover a short futures position might be challenging during periods of intense market volatility, potentially leading to even bigger losses or forcing you to sell at an unfavorable price.
Transaction fees and slippage also play a role. The costs associated with executing trades across different exchanges can quickly eat into potential profits, especially if the arbitrage opportunity is narrow. Slippage (the difference between the expected price and the actual execution price) can further reduce profitability or even transform a potentially profitable trade into a losing one.
Finally, smart contract risks are unique to the crypto space. Bugs or vulnerabilities in the smart contracts governing the futures contracts can lead to unexpected and potentially devastating outcomes. Careful vetting of the contracts is crucial before engaging in arbitrage.
Who can ban Bitcoin, nobody Putin?
Bitcoin and other electronic payment systems are virtually impossible to ban. This is due to their decentralized nature and the inherent difficulty in controlling a global, peer-to-peer network. President Vladimir Putin’s statement reflects the reality that attempting to suppress such technology is akin to trying to suppress the internet itself. While governments can attempt to regulate aspects of cryptocurrency trading and usage within their borders, completely prohibiting Bitcoin’s underlying technology is practically infeasible. The technology is open-source and replicated across numerous nodes worldwide, making censorship extremely challenging and ultimately ineffective. Furthermore, the innovative applications built upon blockchain technology, such as decentralized finance (DeFi) and NFTs, underscore the long-term viability and continued evolution of the crypto ecosystem, regardless of any regulatory hurdles.
Attempts at suppression often lead to unintended consequences, driving innovation underground and potentially creating more complex regulatory challenges. This makes a complete ban not only impractical but also potentially counterproductive. The inherent resilience of the technology itself ensures its continued existence, albeit potentially with a shift in geographical concentration of usage and development.
