Russian Crypto Miners Should Be Legitimized, Say Local Ministries

The Ministry of Economic Development, the Ministry of Energy, and the State Duma want cryptocurrency mining in Russia to be a legalized business regulated as an entrepreneurial activity. However, the country’s central bank opposed such a move, citing the risks related to digital asset endeavors.
Russian Crypto Mining Deserves “Respect And Regulation”
According to a local report by Izvestia, some Russian authorities believe cryptocurrency mining needs to have a comprehensive regulatory framework, while miners should be treated as entrepreneurs.
The Ministry of Economic Development, among other entities, urged for such a move. It predicted that implementing taxation procedures on crypto mining could boost the state budget revenue and intends to present specific ideas in this area soon:
“Recognition of mining as entrepreneurship will allow taxing income from such activities and, accordingly, increase state budget revenues.”
Aleksey Minaev – Deputy Director of the Digital Econo

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