Here Is Why The Russian Crypto Industry Is Trying To Attract Bitcoin Miners
A crypto industry association in Russia has launched a project with the target of attracting Bitcoin miners to the nation. Russian Crypto Industry Association Aims To Attract Miners As China’s crackdowns on crypto mining continue, miners have been migrating out of the nation in hordes. They have been on the search for other more favorable […]
Related News
An industry association representing the Russian crypto sector has launched a project to entice bitcoin miners. Despite its abundant sources of cheap energy, Russia is now lagging behind Kazakhstan, another Eurasian Economic Union member, in terms of cryptocurrency production. Russian Project Aims to Expand Country’s Crypto Mining Capacity The Russian Association of Crypto Industry and Blockchain (Racib) has unveiled a project to bring a larger portion of the global computing potential engaged in cryptocurrency mining to Russia. The Russian Federation, Racib noted in an....
A Russian association has announced a new project to attract bitcoin mining companies as miners face hardships in China.
Cryptocurrency mining should be recognized as an entrepreneurial activity under Russian law and taxed accordingly, representatives of key ministries in Moscow and the parliament have indicated. Officials believe the regulatory move would benefit both the state and the crypto industry. Russian Government to Collect Millions of Dollars in Taxes After Legalizing Crypto Mining While the law “On Digital Financial Assets” — which entered into force in January this year — regulates certain crypto-related activities such as “digital currency issuance,” it....
A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted to Russian Parliament Without Amnesty for Miners Russian lawmakers have again filed legislation with the State Duma designed to regulate cryptocurrency mining. The new draft substitutes a bill submitted at the end of April, which has now been withdrawn. The revised version is missing some....
The main organization representing participants in the Russian crypto space has lambasted authorities in Moscow for not doing enough to regulate the industry. The criticism comes four years after President Putin directed institutions to legally define the status of digital financial technologies. Regulators Accused of Failure to Take Russian Crypto Market Out of Shadow Russian regulatory bodies have been criticized for their actions regarding the cryptocurrency industry in the country. According to Yuri Pripachkin, head of the Russian Association of Cryptoeconomics, Artificial....