Consideration of the draft law on mining in the Russian Federation has been delayed to 2023

According to Deputy Anatoly Aksakov, discussions are currently underway between several departments regarding the document

22.12.2022 - 09:15

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What’s new? Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, reported that the hearings on the draft law regulating cryptocurrency mining in Russia have been delayed until 2023. The deputy in an interview with Kommersant suggested that they could be held in January. Previously, it was planned that the first reading would take place on December 20, 2022.

News on the Kommersant website

What else is known? Aksakov stressed that discussions are currently underway between various departments regarding various provisions of the document, and the main opponent is traditionally the Bank of Russia. However, the sanctions, which are imposed on Russian banks, affect the position of the Central Bank. While in early December, the regulator insisted on selling cryptocurrency derived from mining only on foreign exchanges and to non-residents, in the middle of the month it allowed the possibility of domestic payments in cryptocurrencies as part of an experimental legal regime through an authorized organization.

In this, the Ministry of Finance advocates a more liberal approach to the regulation of cryptocurrencies. According to Deputy Finance Minister Alexey Moiseev, the department does not support the Central Bank’s proposal for a total licensing of cryptocurrency mining. He believes that the implementation of the measures proposed by the regulator will actually mean a ban on mining, which takes place outside of the experimental legal regime.

For how the mining industry works in Russia, as well as attempts to regulate cryptocurrencies in the country, read GetBlock Magazine’s special feature.

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