The discussion surrounding cryptocurrency mining in Russia is moving toward a formal regulatory path. A high-ranking official in charge of energy policy called for bringing mining activities under a clear legal framework as soon as possible, highlighting the ongoing struggle with regulatory gaps and the need for rules that investors and operators can trust. The message was delivered at the first All-Russian conference of legal cryptocurrency miners, where industry stakeholders gathered to discuss how to balance innovation with oversight and reliability in energy-intensive mining operations.
The official stressed that defining mining within the regulatory framework is essential for establishing consistent, enforceable rules. This would cover licensing, reporting, tax treatment, and safeguards that ensure responsible energy use and financial transparency. By fixing the concept of mining in law, regulators can reduce ambiguity and create a stable environment that supports legitimate business activity while deterring illegal or unsanctioned practices.
Earlier statements from another senior government figure indicated that a cohesive legalization strategy was being pursued at the highest levels of government. These discussions reflect a broader policy direction aimed at clarifying how mining and related activities fit into the national economic and energy landscape, as well as how to align them with international norms and domestic interests in energy security and financial regulation.
In parallel, the Finance Ministry introduced a draft law to the government outlining steps toward formalizing cryptocurrency mining and trading. The proposal outlines compliance prerequisites rather than a free-for-all approach, emphasizing safeguards such as verified identity, tax reporting, and anti-money-laundering measures. Under the bill, individuals would face structured requirements to participate in the crypto market, with online educational components and ongoing regulatory duties designed to foster responsible participation rather than unregulated speculation.
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