Russian Ministry of Energy Calls for Urgent Legalization of Crypto Mining
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,....
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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 […]
Russian Ministry of Finance now “advises” using cryptocurrencies as legal tender? That sounds like an old story. Crypto journalists have reported that the Russian Ministry of Finance pushes for tokens to be treated as legal tender. However, there’s no evidence whatsoever to back up these claims. Related Readings | Russia To Legalize Crypto Payments, But Proposal […]
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 Ministry of Economic Development of Russia has suggested that crypto mining should be allowed in energy-rich regions and miners provided with access to inexpensive electricity. The department has joined calls to legalize the industry and utilize Russia’s strengths as a mining destination. Crypto Miners Should Have Access to Cheaper Power, Economy Ministry Says Amid ongoing discussions on the future of cryptocurrencies in Russia, the country’s Ministry of Economic Development has proposed permitting the minting of digital currencies in regions with a surplus of....
The proposal aims to recognize crypto mining as a commercial activity and introduce taxes on its realized profits. 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.As part of the proposal, the ministry suggested....