Russia proposed to introduce an experimental regime to regulate mining
The “regulatory sandbox” regime aims to mine digital currencies using computational capacity hosted by thermal generation facilities
06.04.2022 - 12:10
332
2 min
0
What’s new? Denis Manturov, head of the Ministry of Industry and Trade, stated that the Ministry of Industry and Trade and the Ministry of Construction, together with other federal agencies and representatives of the business community, have prepared proposals to establish an experimental legal regime for mining, RIA Novosti reports. The proposals have been sent to the Government of the Russian Federation.
Material on the RIA Novosti website
Details of the new legal regime. Proposals for the establishment of a “regulatory sandbox” regime were drafted back in 2021. The experimental regime is aimed at mining digital currencies using computing facilities hosted by thermal generation facilities.
How does the “regulatory sandbox” regime operate? Companies and the representatives of the government will be able to engage in the development of new products and services, as well as test them in their chosen region. “The regulatory sandbox” is not regulated by the current legislation.
What preceded it? The Ministry of Industry and Trade’s proposals were made in response to a package of proposals on the regulation of the crypto market compiled by State Duma deputy from United Russia Anton Gorelkin following the party’s roundtable discussion. The discussion was devoted to the development of blockchain technologies and the regulation of the digital assets market. The participants of the event also discussed the legalization of mining. Denis Manturov, head of the Ministry of Industry and Trade, considers these proposals “relevant and supports the party’s initiative on work with them.”
Earlier, the Ministry of Industry and Trade proposed to oblige miners to use domestic equipment. The Ministry’s head Denis Manturov believes that this will reduce information security risks.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$97 893
BTC
+0.64%
-
Ethereum
$3 296.08
ETH
-1.76%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.41
XRP
+24.85%
-
Dogecoin
$0.399966
DOGE
+1.95%
-
Cardano
$0.889119
ADA
+11.36%
-
Bitcoin Cash
$476.1
BCH
-2.77%
-
Polkadot
$6.08
DOT
+2.74%
-
Stellar XLM
$0.287901
XLM
+19.3%
-
Litecoin
$88.39
LTC
-2.11%