OREANDA-NEWS The Ministry of Finance believes that it is necessary to focus on the development of industrial mining in Russia, while it does not make sense to ban household mining, said Alexey Yakovlev, deputy director of the Ministry's Financial policy Department.

The Ministry of Finance of the Russian Federation has already submitted to the government a bill on the regulation of cryptocurrencies, in which, in particular, it proposes to maintain a ban on their use as a means of payment in Russia, to introduce identification and online testing of investors in such assets, as well as to consolidate the definition of digital mining.

«Today we talked about two groups of miners — industrial and domestic. If, as far as I understand, everyone has a certain consensus with industrial companies that they should work, mine, pay taxes, then with another group it is not entirely clear, different opinions sound. We believe that it is necessary to focus on the development of industrial mining, but it probably does not make sense to ban household mining», Yakovlev said during the round table «Regulation of mining in Russia: pros and cons».

He noted that the draft law on the regulation of cryptocurrencies will be finalized. «In the near future we will finalize our bill, which is already on the site of the government office, and we will pay special attention to mining. The formula is the most effective activity from the point of view of economic feasibility, but at the same time, of course, minimizing risks primarily from the point of view of countering money laundering and terrorist financing and ensuring the energy security of the country», Yakovlev concluded.