Crypto Mining Should Be Registered and Taxed in Russia, Financial Market Comm...
Cryptocurrency mining should be registered as entrepreneurial activity and taxed as such, according to Anatoly Aksakov, chairman of Russia’s parliamentary Financial Market Committee. The lawmaker also thinks Russian digital currency regulations need refinement. Amendments Likely to Affect Mining, Taxation, Definition of Digital Currency Discussing upcoming changes in the legislation regarding digital currencies in Russia, head of the Financial Market Committee in the State Duma, Anatoly Aksakov, expressed his opinion that cryptocurrency mining should be added to....
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Digital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country is capable of setting up domestic crypto exchanges and should support mining. Russia Can Establish Own Cryptocurrency Exchanges, Deputy Insists The crypto space is an area where it’s difficult to impose restrictions on Russia, a member of the State Duma, the lower house of Russian parliament, has recently pointed out. Speaking to Parlamentskaya Gazeta, Alexander Yakubovsky....
The International Monetary Fund (IMF) remains wary of a possible scenario where countries like Russia and Iran may use crypto mining to avoid sanctions. In the global financial stability report by IMF, the monetary institution expressed concerns regarding the risks the digital currency poses to the global financial market. IMF believes that there’s always a […]
Russia can legalize cryptocurrency mining and stablecoins backed by gold under government control, a high-ranking member of the Russian parliament has suggested. The statement comes after Bank of Russia proposed a wide-ranging ban on the use of cryptocurrencies, and their trading and mining. Mining and Some Stablecoins Can Be Legalized in Russia, Duma Deputy Insists The free circulation of cryptocurrencies must not be allowed as they carry risks for unqualified investors, but Russia may permit the use of gold-backed stablecoins and the mining of cryptocurrencies under government control,....
After terminating mining operations in Russia's mining-rich region of Siberia in February, SBI still continues running some mining activity in the country. Japanese financial giant SBI Holdings has partly terminated cryptocurrency mining in Russia due to geopolitical uncertainty and the crypto winter.SBI Holdings suspended mining operations in Russia’s crypto mining-rich region of Siberia, citing reasons like Russia-Ukraine conflict and the ongoing bear market, Bloomberg reported on Thursday.The Japanese online brokerage shut down the Siberian mining operations shortly after Russia started....
Platforms listing ads for mining hardware have been registering declining demand since Bank of Russia’s call for a ban on the minting of digital currencies among other crypto activities. While mining may eventually be legalized, miners can expect to pay higher electricity bills.
Supply Exceeds Demand on Russian Market for Mining Chips
Mining hardware is now more often offered than sought, Russian online marketplaces have noticed. The trend began after the Central Bank of Russia (CBR) published a consultation paper this month, in which the regulator proposed a blanket ban....