Russian Ministries Discuss Crypto Mining ‘Legalization’ – But There’s a Twist
Russian ministries could be prepared to “legalize” industrial crypto mining in the country. But one key department could yet throw a spanner in the works.
After years of dismay and repeated pleas for Moscow to formally recognize mining as a form of “entrepreneurship,” miners this month submitted a new draft bill to ministries.
Per the Russian newspaper Izvestia, most ministers are now ready to grant mining legal status.
However, the Ministry of Industry and Trade – which has the final say on business classifications – is not convinced.
Miners want Moscow to recognize their business as an industry. They want the state to assign mining a code in the All-Russian Classifier of Economic Activities (OKVED).
The Ministry of Energy told Izvestia that it “supports” this move, as does the Ministry of Economic Development.
The Ministry of Finance, Cryptonews.com believes, is also inclined to back the proposal. It has previously suggested legalizing industrial mining, and banning “private” mining ventures.
The media outlet quoted the deputy head of the “relevant” State Duma committee as stating that “not everyone is in favor of” the idea.
But the same lawmaker noted that “the ice has been broken,” and opined that a decision would be forthcoming “within a month.”
MP Valery Seleznev, a member of the State Duma Committee on Energy, said a “number of interdepartmental meetings” have been held on mining in recent weeks.
Seleznev noted that the Ministry of Digital Development had little interest in the matter until recently.
But, Seleznev said, the ministry has since had a change of heart and is now participating in talks.
Earlier this year, miners suggested that they would allow Russian government officials to make use of their cutting-edge data
