Cryptocurrency mining activity carries a high level of risk. This stated by Elena Avakyan, vice-president of the Federal Bar Association of Russia, in an interview with lawyer Anna Kostyra.
Avakyan noted that there is currently no law governing mining activity in Russia, and no rules for the taxation of digital financial assets have been adopted.
“In this regard, mining on the territory of the Russian Federation is possible with a properly structured compliance-management system, with a clear understanding of current and future risks,” said the vice-president of the Federal Bar Association.
She also advised preparing in advance justification for the legality of the sources of funds used to mine cryptocurrencies.
Earlier, in November, representatives of several ministries supported the initiative to regulate майнинга как вида предпринимательской деятельности.
Meanwhile, the Bank of Russia spoke out against any «инициатив, contributing to the appearance of monetary surrogates».
Mining in Russia is not prohibited at present, but its regulation is not codified.
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