The State Duma adopted in the first reading a bill that will regulate cryptocurrency mining in Russia. This was reported by DEA News.
“The bill helps reduce the risk of illegal mining activities and related crimes,” said Nikita Chaplin, a member of the Budget and Tax Committee.
According to him, this level of legal regulation of mining can stimulate the development of the sector, attract investment and create new jobs.
According to the law, the requirements for miners’ activities will be determined by the government in agreement with the Central Bank. The Ministry of Digital Development will monitor compliance with the requirements. The government may also ban mining in certain regions. Only persons registered in the relevant registry will have the right to mine in the Russian Federation. The bill prohibits the regulation of digital currency circulation in the Russian Federation. If adopted, it will enter into force on September 1, 2024.
Prior to that, he worked at the Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA). statedProcessing organic waste (manure, uneaten vegetables, fruits, meat, and more) through pyrolysis (combustion) and anaerobic digestion (decomposition by bacteria) can create surplus electricity for cryptocurrency mining.
Security forces previously closed A huge mining farm in the dachas of the Irkutsk region.
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Source: Gazeta
Jackson Ruhl is a tech and sci-fi expert, who writes for “Social Bites”. He brings his readers the latest news and developments from the world of technology and science fiction.