Russia’s 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

06.04.2022 - 09:00

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What’s new? Russian miners may be obliged to use domestically produced equipment for mining cryptocurrencies. This proposal was made by the head of the Ministry of Industry and Trade of the Russian Federation Denis Manturov, RIA Novosti reports.

News on the RIA Novosti website

What other statements have been made? Denis Manturov believes that the use of Russian equipment in cryptocurrency mining will help to level information security risks. The proposal concerns the field of industrial mining. In this, the minister stressed that when such a requirement is introduced, it will be about the equipment available on the Russian market.

What had happened before? The Ministry of Industry and Trade’s statement was 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 expert roundtable discussion. The discussion was devoted to the development of blockchain technologies and the regulation of the digital asset market. The roundtable participants concluded that the legalization of cryptocurrencies and their legal conversion into the Russian ruble will help minimize the impact of sanctions.

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