This article is from 1prime.ru and the original article can be read here
MOSCOW, 21 Mar — PRIME. Deputy Prime Minister Alexander Novak advocated the introduction of legislative regulation of cryptocurrency mining in Russia and the collection of taxes from the industry: there are free energy capacities in the country. He spoke about this during a meeting with factions in the State Duma.
The expert believes that Russia needs to create an international digital arbitrage
“Regarding mining, the Ministry of Finance and the Central Bank are involved in regulation. My personal opinion, position is that this should be legalized in principle, a normal system of economic reality should be introduced, and a system of tax relations should be introduced,” Novak believes.
“We have free energy capacities that can be used. In this case, we are not against it, but here it is necessary that it be enshrined at the legislative level that there is such a type of activity … We need to legally connect, … continue to work, pay taxes,” — added the Deputy Prime Minister.
The Ministry of Finance, together with the Bank of Russia, was instructed to submit to the government a bill on the regulation of cryptocurrencies. At the same time, the ministry remains fundamentally at odds with the Central Bank on this topic.
On February 18, the Ministry of Finance of the Russian Federation submitted to the government a bill on the regulation of cryptocurrencies, in which, in particular, it proposes to maintain a ban on their use as a means of payment in Russia, introduce the identification and online testing of investors in such assets, and also consolidate the definition of digital mining. At the same time, the Central Bank of the Russian Federation has developed two bills to ban the issuance and circulation of cryptocurrencies in the country, as well as fines for violating these requirements.