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The Central Bank of the Russian Federation is ready to allow mining in the country, but under certain conditions.
As Kirill Pronin, head of the Central Bank’s Department for Financial Technologies, noted, the sale of miners’ proceeds should be carried out outside of our country.
He stressed that control over the production of cryptocurrency is not the responsibility of the Central Bank. However, miners are rewarded for their work.
Therefore, it is necessary to establish control over citizens and enterprises involved in crypto mining. Thus, the legalization of the industry under certain conditions is quite possible.
According to the official, the cryptocurrency that miners accumulate can be sold on foreign markets for fiat money. That is, in fact, the Bank of Russia offers to export the services of miners, and the business of such enterprises should not lead to the accumulation of digital currencies within the country.
Pronin noted:
Miners will be able to accumulate the received cryptocurrency in their wallets hosted on public blockchains, and then engage in their external implementation.
The State Duma is a supporter of the regulation of mining in the Russian Federation. Parliamentarians want to oblige citizens who mine digital assets to register as entrepreneurs and pay taxes to the budget.
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