Russia's Ministry of Finance considers an excise tax on electricity for cryptocurrency miners to regulate energy consumption and increase budget revenue.
Russian State Duma is debating a crucial crypto mining bill that could either end or revive the industry. The bill now suggests removing bans on cryptocurrency advertising and circulation, hinting at a potential regulatory shift.
Valery Seleznev emphasized the need for flexible conditions in Russia's cryptocurrency mining legislation. Speaking at the International Economic Forum, he outlined steps for regulatory frameworks. Russian Deputy Finance Minister Ivan Chebeskov supported using cryptocurrencies for international settlements. The legislation's adoption was delayed but remains essential for industry regulation.