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Russian Lawmakers Poised to Legalize Crypto Mining Sector
Russian lawmakers are moving towards legalizing the nation’s industrial crypto mining sector, with potential strict limits on home-based miners.
New Mining Law Under Discussion
Deputy Chairman of the State Duma Committee on Information Policy Anton Gorelkin confirmed that a new mining law will be debated in the current session of the State Duma.
Possible Changes in Crypto Mining Sector
The mining bill might be combined with regulations that could ban crypto exchanges in Russia, with exceptions for firms operating under Central Bank supervision.
Permit System and Energy Consumption Limits
The proposed bill suggests that only Russian firms with permission will be allowed to mine, while individuals within energy consumption limits can mine without permits.
Regulation on Industrial Miners
Industrial miners may access Moscow-controlled exchanges to sell tokens, with obligations to report activities to the anti-money laundering agency.
Role of Overseas Exchanges
Industrial miners might be permitted to sell coins without using Russian infrastructure, potentially involving overseas crypto exchanges.
Power Shift to Energy Providers and Local Governments
The bill grants power to energy providers and local authorities, allowing the government to ban mining in specific regions.
Experts’ Views on the New Bill
Legal experts in Russia have varied opinions on the proposed bill, with concerns about its readiness and chances of acceptance in its current form.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
