There is no law for miners – Kommersant
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Miners flocked to Russia due to the lack of legal regulation of the cryptocurrency mining industry, according to the Ministry of Energy. Currently, not a single law even includes the concept of cryptocurrency mining activities, although it is not prohibited, says Kirill Nikitin from Vegas Lex. The bill on mining was submitted to the State Duma at the end of 2022, but has not yet been adopted. The development of basic legislation will make it possible to establish the legal status of mining, distinguish between related concepts in the digital sphere, and also eliminate a number of practical problems, including those related to tariffs and taxation issues, notes Mr. Nikitin.
The Ministry of Economy agrees that “given the spread of mining, additional regulation is certainly required.” Primarily due to the fact that mining “farms” create increased load on power grids and often try to escape commercial tariffs by imitating individuals. “It is necessary to create conditions for the development of mining, but not to the detriment of other participants,” the ministry said. They did not comment on the initiatives of the Ministry of Energy, noting only that “they expect a consolidated proposal from colleagues from the Ministry of Energy, as the curator of the issue, worked out jointly with the industry.” The Ministry of Finance ignored Kommersant’s request.
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