Media: Russian government orders mining to be included in cryptocurrency-regulation roadmap

Deputy Prime Minister Dmitry Chernyshenko has instructed that the roadmap for regulating the crypto industry include questions related to the legal status of mining. A government-source told «Известиям».

Previously, mining was to be considered separately because of its “special characteristics.” Now, the relevant agencies, including the Ministry of Finance, Ministry of Digital Development, Ministry of Economic Development, Ministry of Energy, Ministry of Industry and Trade, the Federal Tax Service, the Federal Security Service and Rosfinmonitoring, have been tasked with developing a legal framework for crypto mining and incorporating it into the roadmap.

Chernyshenko also ordered the formation of a working group with industry representatives on this issue, with the participation of the Government Coordination Center.

Earlier, according to the media, the Russian Deputy Prime Minister approved the roadmap for regulating the cryptocurrency market through to the end of 2022.

Besides defining the status of market participants and the manner of their activities, it also envisages introducing administrative or criminal liability for crimes involving cryptocurrencies, in particular for illegal turnover of assets and evading disclosure of information about transactions with them.

Previously, the Bank of Russia advocated a full ban on crypto assets and mining on the territory of the country. The regulator believes that the mining of digital currencies poses significant threats to the Russian economy and its citizens.

Experts interviewed by ForkLog described the central bank’s arguments in favor of banning mining on Russian territory as untenable.

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