Mining Ban Could Cost Budgets 12 Billion Rubles and 2,400 Jobs, Says Lugovoy

Andrey Lugovoy revealed that the ban on mining could result in 12 billion rubles less for budgets at all levels and 40 billion rubles lost by energy companies annually. Additionally, about 2,400 specialists will lose their jobs, negatively impacting the labor market.

The economy will miss out on 230 billion rubles of cryptocurrency liquidity for foreign economic activities, which could affect international transactions and the country’s investment appeal.

Lugovoy emphasized that instead of bans, efforts should focus on combating illegal electricity consumption and developing legal mining, which brings significant revenue to the budget and promotes technological advancement.