The Ministry of Finance proposed to export Russian cryptocurrency – Kommersant
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The Ministry of Finance has developed a bill according to which Russian miners will be able to sell cryptocurrency for export as a product of mining activity. The mechanism will work in a similar way to gas exports. Deputy Minister of Finance Ivan Chebeskov spoke about this at the round table “Cryptocurrency and the future of digital finance”, his words are quoted RBC.
“There is an option and a bill – to use the export of cryptocurrency as a product of mining activity. That is, there is special legislation for the export of gas, for example, using this example, we developed a concept, a project so that a miner could export the product of what he mined, that is, cryptocurrency, as an export product,” said the deputy head of the Ministry of Finance.
Ivan Chebeskov also recalled that the Ministry of Finance and the Central Bank have already prepared amendments on the use of digital rights in international payments. According to him, the bill could be adopted by the State Duma as early as the spring session. This bill may include a clause on the export of cryptocurrency mined in Russia.
According to the deputy minister, the amendments will create new opportunities for business, and for digital platforms – the necessary tools for payments. He also noted that there are already more than ten operators of digital financial platforms in Russia.
Amendments legalizing cryptocurrency mining in Russia were introduced to the State Duma in November 2022. They describe the mechanism for the sale of digital currency by miners, and also prohibit its advertising or offering to an unlimited number of people. The mined cryptocurrency can be sold on foreign platforms “without using Russian information infrastructure.” The Federal Tax Service will need to be notified of transactions.
The head of the State Duma Committee on the Financial Market, Anatoly Aksakov, said this summer that amendments to regulate cryptocurrency mining could begin to take effect as early as 2024.
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