Draft law on the regulation of cryptocurrency mining is being prepared for consideration by the State Duma

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Ultramining.com

16:27 21/09/2022

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Draft law on the regulation of cryptocurrency mining is being prepared for consideration by the State Duma

According to Anatoly Aksakov, the Ministry of Finance and the Central Bank came to a consensus on mining regulation. At the moment, the document itself is still being prepared for submission to the State Duma. However, the deputy shared his opinion on several questions related to mining.

Thus, Anatoly Aksakov is sure that the mining of cryptocurrencies should be allowed only in those regions of Russia in which there is a surplus of electricity. If there is a shortage of energy resources, mining should be prohibited. If miners' work isn't disrupting the provision of the population and infrastructure with electricity, this type of activity will be able to help enterprises-producers to obtain additional revenue from the sale of energy.

Recall that the issue relating to mining began to be discussed back in December last year, and now, as the regulator assures, it is in its final stage. In general, many experts note that the Central Bank and the Ministry of Finance have no goal to prohibit the operation of entities engaged in cryptocurrency mining. However, the need to introduce control points and determine the cost of electricity, which will be used for these purposes, is noted.

Mikhail Mishustin demanded to determine the position on the regulation of cryptocurrency mining by December 19 of this year. As for digital currencies in general, it is not ruled out their use to pay for goods imported from abroad.   


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