Russian Energy Minister Wants To Legalize Crypto Mining – The Sanctions Are H...
The tables have turned in Russia as the country’s energy minister calls for the legalization of crypto mining. Russia has had to fend for itself in recent months as it has faced escalating sanctions from the West and other nations. On Saturday, Deputy Energy Minister Evgeny Grabchak stated that Russia’s mining sector is now operating […]
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Prime Minister Mikhail Mishustin and the Russian Ministry of Economic Development have backed efforts to regulate cryptocurrencies and integrate them into the country’s economy. The support comes amid mounting sanctions over the war in Ukraine which restrict Russia’s access to global finances.
Finance Ministry’s Push to Legalize Russian Crypto Space Gains Traction
Russian authorities are moving towards the adoption of a comprehensive legal framework for cryptocurrencies, despite the central bank’s persisting opposition. The Finance Ministry’s....
The industry organization of Russian energy suppliers has come up with ideas on how to combat cryptocurrency mining in homes, basements and garages. The association believes the phenomenon is the main issue with mining in Russia as authorities prepare to legalize it.
Suppliers Move Against Mining With Cheap Electricity
The Russian association of energy suppliers and power utilities has prepared proposals to curb amateur crypto mining with subsidized household electricity, which has become a popular income source for many Russians. A letter listing its recommendations has been....
The quotas and allocations of mining operators should be set by the regional authorities, not federal, the deputy minister says. Russian Deputy Minister of Energy Evgeny Grabchak proposed eliminating the legal vacuum around crypto mining in the country and introducing clear regulation. This statement continues the recent streak of support for the crypto industry among the officials. Speaking at the first national conference of legal crypto miners in Irkutsk on Saturday, Grabchak called for introducing the regulatory framework for the sector as soon as possible:"The legal vacuum makes it....
The legal vacuum in the crypto mining sector must be filled “as soon as possible,” according to a statement by Russian Deputy Minister of Energy Evgeniy Grabchak. The government official also called for introducing regional quotas for crypto farms instead of regulating their business at the federal level.
Russian Official Proposes Regional Energy Quotas for Crypto Miners
Cryptocurrency mining needs to be regulated soon, Evgeniy Grabchak insisted during Russia’s first national conference of legal bitcoin miners, held recently in Irkutsk. The Siberian oblast,....
Cryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week.
Crypto Legalization Is Current Trend, Russian Minister Acknowledges
Cryptocurrency can be legalized in the Russian Federation, according to a statement by the country’s Minister of Industry and Trade Denis Manturov, during the “New Horizons” educational marathon organized by the Russian “Knowledge” society.....