Russia Will Not Try to Ban Home Crypto Mining, Finance Ministry Official Indi...
A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space. Russia Prepares to Legalize Cryptocurrency Mining Trying to prohibit at-home crypto mining makes no sense as it would be difficult to impose such a ban, according to Alexey Yakovlev, deputy director of the Financial Policy Department at the....
Related News
The Finance Ministry in Russia, long known for taking an aggressive stance against Bitcoin is now developing a proposal to officially ban bitcoin in Russia. The proposal by the Finance Ministry cites the Russian Central Bank to be the sole issuing authority to create what it sees as the only valid currency in the country, the Russian ruble. The Ministry of Finance in Russia is in the process of proposing new amendments to article 27 of the Russian Federation’s Federal Law on the Central Bank (Bank of Russia). A report published today by Moscow-based publication Izvestia, has revealed that....
Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies in international settlements is under consideration at the Ministry of Finance of Russia since the country’s access to the traditional payment channels is limited, Ivan Chebeskov, director of the....
Finance Ministry official says an upcoming bill may provide local infrastructure a allow businesses to negotiate the use of cryptocurrencies in international trade on their own. A Russian Finance Ministry official has provided new details about a bill on digital currencies, whicht is currently being drafted.The bill provides local infrastructure for settlements and regulation on mining, but will leave many details for businesses to work out on their own, the Finance Ministry's Financial Policy Department head Ivan Chebeskov said Monday at a roundtable hosted by the International Chamber of....
Deputy Head of Russia's Ministry of Finance Alexei Moiseev has said Russia is likely to pass its digital currency ban in the spring of 2015, according to a report by Russian business news agency Prime. "We might accept this law during this session, but most probably we will do it in spring," Moiseev said. Russia's Ministry of Finance has announced proposals to ban the issuance of bitcoin and any operations involving cryptocurrency. On Friday (1st August), the Finance Ministry announced on the government's regulation website that it was drafting a bill relating to cryptocurrencies, which,....
Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital Coins in Russia The Central Bank of Russia (CBR) and the Ministry of Finance (Minfin) have adopted a joint position on the regulation of crypto mining. The bitcoin-related activity has been expanding in the energy-rich nation, both....