CBP Group

Amid the Russian government continuing working out a regulatory regime for digital assets, a federal ministry has made another proposal regarding the crypto mining industry.

Russia’s Ministry of Economic Development has greenlighted the concept of crypto mining regulation in the country, proposing to allow mining operations in areas with “sustainable surplus in electricity generation,” local news agency Izvestia reported Tuesday.

Per a recent press release, MicroPets, one of the famous crypto projects on Binance Smart Chain [BSC], has revamped its existing reward system. With the overhaul done, MicroPets recorded a massive surge—a 100% price rise.

Since its inception, MicroPets has given out over $10.5 million worth of $PETS—its native token—to its 68,000 holders across the world. While a massive price rise has been recorded in the last couple of weeks, the constant rewards have affected the price of $PETS, therefore prompting the need for a better structure that will not only cater to community members but will drive the token as it seeks to rank as one of the top cryptocurrencies.

Described as a game-changer by community members, as revealed by the aforementioned source, the revamp takes a different approach, one that intermixes BNB rewards and NFT burning.

BNB Rewards and NFT Burning
The team has introduced two distinct pools—Unevolved and Evolved. The former allows investors to receive rewards in $PETS, albeit at a closely and firmly controlled quantity monthly. The latter, on the other hand, enables investors to receive BNB as a reward while offering them the opportunity to buy $PETS with BNB without tax. This will help investors DCA [dollar cost average] their earned BNB with a 0% buy tax, in the process pumping the chart.