Russia to ban miners from receiving crypto rewards
Miners who are paid in bitcoin and other digital assets risk being fined up to 100,000 rubles, equivalent to $ 1,300
Russia is one of the countries where the issue of cryptocurrencies and its regulatory framework has been very controversial. Just a month ago, President Vladimir Putin gave his approval to the Digital Financial Assets (DFA) law. A reform to legalize bitcoin mining is currently being studied, although with the prohibition of miners from receiving incentives for this activity in bitcoin.
According to information issued by the Putin government, the Russian Finance Ministry is working on modifications on cryptocurrency transactions to limit their use to three specific areas: inheritances, bankruptcy-related operations and judicial executions.
Likewise, miners will not be authorized to receive remuneration in bitcoin or other cryptocurrencies for their activity. If they do, they could be fined up to 100,000 rubles (equivalent to $ 1,300). In addition, they would be sentenced to seven years in prison. If it were a company, the fine would be 1 million rubles ($ 13,000).
The measures are considered contradictory in view of the fact that cryptocurrencies are based precisely on mining. In this regard, Dmitry Sakharov, CEO of the Moscow Digital School, stated that “the situation is complex and it is not clear how the miners would receive the incentives.”
Speculation about it has not been long in coming. It is presumed that Russian miners will continue to mine cryptocurrencies but bitcoins will become controlled through government wallets.
M.Pino
Source: criptonoticias
