Irkutsk region listed the conditions for the legalization of mining in the region

The head of the regional Ministry of Energy believes that cryptocurrency can benefit businesses and the state

29.03.2022 - 12:40

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What’s new? The minister of Housing Policy and Energy of the Irkutsk Region, Anatoly Nikitin stated that the region could become a center for cryptocurrency mining in Russia, the local media reports. This will happen after the government of the Russian Federation approves all the concepts for the regulation of digital assets and approval from the Ministry of Energy of Russia, Nikitin believes.

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What else did Nikitin add? The minister believes that uncontrolled mining creates risks of power outages. The head of the regional Ministry of Energy calls for regulation of cryptocurrency mining so that it “benefits both small businesses and the state.” Legal mining should cover the costs of generating power and maintaining the power grids, Nikitin believes.

What had happened before? On March 28, Deputy Energy Minister Yevgeny Grabchak called for mining to be made legal in the country as soon as possible. He believes that there is currently a “legal vacuum” in the field of mining that needs to be addressed as quickly as possible. Also, Deputy Prime Minister Alexander Novak suggested that cryptocurrency mining be fixed at the legislative level, this decision will help to regulate the area of digital assets and allow the collection of taxes from miners.

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