Russian official urges cryptocurrency mining legalization

Russia's Deputy Minister of Energy called for a clear legal framework to be established to allow cryptocurrency mining

Evgeny Grabchak, Deputy Minister of Energy of Russia, called for cryptocurrency mining to be legalized in the country as soon as possible, through a regulation that establishes all the necessary points.

“The legal vacuum makes it difficult to regulate this area and establish clear rules of the game. This legal loophole must be eliminated as soon as possible. If we want to somehow get along with this activity, and we have no other options in the current reality, we must introduce legal regulation, adding the concept of mining to the regulatoryframework”, said Grabchak.

On the other hand, the deputy minister assured that it would be prudent to allow this to be done through the regional authorities, and not their federal counterparts, for the allocation of spaces for mining and possible energy quotas.

“Perhaps it should be synchronized with the development strategies of the regions and the plans of other sectors of the industry”, added the official.

These statements continue the series of support expressed for the cryptocurrency industry after the sudden attack on the Central Bank of Russia (CBR), which called for a complete ban on mining and trading in January.

K. Tovar


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