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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

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    Volume Plunges While Transactions Soar

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    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

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  • Guides
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    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

  • Coin Marketcaps
  • Home
  • Crypto
    • Bitcoin
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

    Blushush by Sahil Gandhi and Ohh My Brand by Bhavik Sarkhedi Partner to Revolutionize Brand Strategy and Personal Branding

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

  • Metaverse
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    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

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    Experience to Earn: Everdome’s Metaverse Frontier

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    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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    Carrieverse and Disney Ink Content Deal

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  • NFT
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    CryptoPunks Dominate Top Weekly NFT Sales amid Overall Market Sales Volume Surges 34.19% to $133.66 Million

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    Volume Plunges While Transactions Soar

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s Telegram NFT Drop Sold Out in Half an Hour

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

    Snoop Dogg’s TON NFT Launch Could Signal New Narrative for NFT Market

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    Why a ‘Mobile-First’ Mentality Drove OpenSea’s Latest Acquisition

    Boxed Memecoins as Collectible Toys

    Boxed Memecoins as Collectible Toys

    Hype fades as NFT platforms lose users

    Hype fades as NFT platforms lose users

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    OpenSea Revolutionizes Mobile Trading with Rally Wallet Acquisition

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

    Donald Trump Had Said, ‘The US Government Will Not Sell Cryptocurrency From Now On,’ But Something Strange Is Going On — Onchain Data Shows…

  • Gaming
    OpenSea’s Rally Acquisition Signals a Shift—But Toward What?

    OpenSea’s Rally Acquisition Signals a Shift—But Toward What?

    CARV Joins Anomaly Games to Redefine AI-Led Gaming Interoperability

    CARV Joins Anomaly Games to Redefine AI-Led Gaming Interoperability

    How Dolce & Gabbana Burned NFT Buyers and Evaded Blame

    How Dolce & Gabbana Burned NFT Buyers and Evaded Blame

    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

    GaFin Joins Efforts with Helium Wars to Redefine the Future of Web3 Gaming

    Crypto games are struggling in 2025, but big brands aren’t giving up

    Crypto games are struggling in 2025, but big brands aren’t giving up

    Taking Back Identity: How MocaChain Decentralizes Digital Power

    Taking Back Identity: How MocaChain Decentralizes Digital Power

    ‘League of Kingdoms’ Expands Into ‘Arena-Z’ as New Games and Tokens Emerge

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    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

    R-Games and LoveBit Unite to Power ESG-Driven Web3 Gaming

    Elon Musk’s xAI Launches Waifu Companions for Grok

    Elon Musk’s xAI Launches Waifu Companions for Grok

  • Blockchain
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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    LFG Boosts Token Launches with Community Power

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    Polyhedra Network launches Proof Cloud in open beta

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    It’s a Different Sort of Olympics as Cryptographers Face Off in Polyhedra’s ‘Proof Arena’

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    SoonVerse Partners with Arris to Enhance User Experience

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    Metaplex Deploys Product Suite on Sonic SVM, Enhancing Solana’s Gaming Ecosystem

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    Space and Time Becomes ZK Coprocessor in Karak’s Ecosystem

  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    ETH Daddy Discusses Ethereum and AI

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    UAE emirate launches new free zone for digital assets, Web3 and AI

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  • Guides
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    What Is Copy Trading in Crypto? A Beginner’s Guide

    A Step-by-Step Guide for Risk-Takers

    A Step-by-Step Guide for Risk-Takers

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

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    How It Works and What to Watch Out For

    Crypto Risk Management Strategies for Trading (2025)

    Crypto Risk Management Strategies for Trading (2025)

    What Is Crypto Staking? How to Earn Crypto by Holding It

    What Is DeFi Staking? Everything You Need to Know

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    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    What Is Liquid Staking? How It Works & Why It Matters in Crypto

    A Full Comparison of Layer 2 Solutions

    What are Rollups in Crypto? ZK Rollups and Optimistic Rollups Explained

  • Analysis
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    An SBF Testimony Could Add ‘Decades’ to His Prison Sentence, According to Lawyer – Here’s Why

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

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    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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Home Mining

Russian Ministries Discuss Crypto Mining ‘Legalization’ – But There’s a Twist

March 27, 2024
in Mining
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Russian Ministries Discuss Crypto Mining ‘Legalization’ – But There’s a Twist
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Russian ministries could be prepared to “legalize” industrial crypto mining in the country. But one key department could yet throw a spanner in the works.

After years of dismay and repeated pleas for Moscow to formally recognize mining as a form of “entrepreneurship,” miners this month submitted a new draft bill to ministries.

Per the Russian newspaper Izvestia, most ministers are now ready to grant mining legal status.

However, the Ministry of Industry and Trade – which has the final say on business classifications – is not convinced.

Russian Ministries ‘Break Ice’ on Crypto Mining Discussion

Miners want Moscow to recognize their business as an industry. They want the state to assign mining a code in the All-Russian Classifier of Economic Activities (OKVED).

The Ministry of Energy told Izvestia that it “supports” this move, as does the Ministry of Economic Development.

The Ministry of Finance, Cryptonews.com believes, is also inclined to back the proposal. It has previously suggested legalizing industrial mining, and banning “private” mining ventures.

The media outlet quoted the deputy head of the “relevant” State Duma committee as stating that “not everyone is in favor of” the idea.

But the same lawmaker noted that “the ice has been broken,” and opined that a decision would be forthcoming “within a month.”

MP Valery Seleznev, a member of the State Duma Committee on Energy, said a “number of interdepartmental meetings” have been held on mining in recent weeks.

The Russian State Duma in session. (Source: Duma.gov.ru [CC BY 4.0])

Seleznev noted that the Ministry of Digital Development had little interest in the matter until recently.

See also  Mining giant Marathon set to buy another site just weeks ahead of bitcoin halving 

But, Seleznev said, the ministry has since had a change of heart and is now participating in talks.

READ ALSO

French lawmakers propose a crypto mining “experiment”

French lawmakers say country could generate $150M in annual revenue from Bitcoin mining

Not Everyone on Board with Mining Plans, Insiders Say

Earlier this year, miners suggested that they would allow Russian government officials to make use of their cutting-edge data centers to expand state-run IT projects.

Miners have more support still in the State Duma, where lawmakers Anton Tkachev, Vladimir Plyakin, Grigory Shilkin, and Sardana Avksentyeva have backed their draft bill.

One party that has not yet made its feelings clear is the Central Bank, which has previously called for a ban on crypto mining.

A financial expert claimed this week that Moscow has little appetite for crypto-related discussions.

She said that the Central Bank and most ministries are instead focusing on rolling out the digital ruble.

US officials this week indefinitely withdrew a survey aimed at gathering information on the crypto-mining industry’s power use, hindering attempts to understand the sector’s impact on grids and energy prices at a time of record activity https://t.co/2fZxyQndDT pic.twitter.com/TQ0QpRiN7L

— Reuters Legal (@ReutersLegal) February 28, 2024

Hope Springs for Russian Crypto Miners?

The media outlet said authorities are “considering two options” for legalization. One of these involves “creating a new, separate OKVED category for [crypto] mining.”

The other would see ministers add mining to an “already existing section of the OKVED database.”

Miners have repeatedly called on Moscow to help take their industry out of the legal “grey” zone.

See also  How Safe aims to simplify crypto UX

The finance ministry also wants to do this, believing it can expect a tax windfall if mining becomes “legal.”

A crypto mining bill was submitted to the State Duma in 2022, but failed to pass the committee stage after a first reading.

The nation’s biggest mining firm, BitRiver, approached the Minister of Industry and Trade Denis Manturov with a legislative proposal in mid-2023. This was also unsuccessful.

Russia and Western countries have traded barbs over a deadly attack by gunmen that killed 137 people in a concert hall outside Moscow. Here is a timeline of events before and after the attack: https://t.co/KRTqvqZYwO

— Reuters (@Reuters) March 26, 2024

The head of the Russian Industrial Mining Association (IPM), Sergei Bezdelov, told the media outlet:

“Taking into account the more attractive market conditions for conducting mining activities in the Russian Federation, we have every chance to push the United States out of first place.”

Earlier this month, the IPM said that Russian industrial miners were ready to invest $4 billion in the industry.

Tags: CryptoDiscussLegalizationMiningMinistriesRussianTwist

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