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<p style="text-align: justify">The Russian Ministry of Finance is assessing the idea of exporting cryptocurrencies obtained from mining activities within the country. According to the Ministry, this mechanism is expected to function similarly to the country’s natural gas exports.</p>
<h2 style="text-align: justify" id="russia-may-allow-miners-to-sell-cryptocurrency-as-an-export-commodity">Russia May Allow Miners to Sell Cryptocurrency as an Export Commodity</h2>
<p style="text-align: justify">During a meeting on the “Future of <a href="https://en.coin-turk.com/will-altcoin-rise-important-update-for-shiba-coin/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Cryptocurrency</a> and Digital Finance,” Deputy Finance Minister Ivan Chebeskov mentioned that Russian miners could be authorized to sell their cryptocurrencies as an export commodity. Speaking to the Russian channel RBC, Chebeskov made the following statement:</p>
<blockquote>
 <p style="text-align: justify">There is an option and a draft law to use cryptocurrency exports as a product of mining activities. In other words, there is special legislation for gas exports, for example, using this as a model, we have developed a concept, a project that allows a miner to export the product they mine, that is, the cryptocurrency, as an export commodity. Such a legal initiative is being created in our country as well.</p>
</blockquote>
<p style="text-align: justify">Russia hosts many cryptocurrency miners due to the abundance of resources and the ability to provide cheaper electricity. Chebeskov also emphasized that the Ministry of Finance and the Central Bank of Russia are in agreement on recognizing cryptocurrency mining as an industry.</p>
<h2 id="img-loading-lazy-decoding-async-loading-lazy-class-aligncenter-size-full-wp-image-288949-src-https-coin-turk-com-wp-content-uploads-2023-12-rusya-kripto-para-bitcoin-gas-jpg-alt-width-1200-height-800"><img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-288949" src="https://coin-turk.com/wp-content/uploads/2023/12/rusya-kripto-para-bitcoin-gas.jpg" alt="" width="1200" height="800"></h2>
<h2 style="text-align: justify" id="will-crypto-mining-become-legalized">Will Crypto Mining Become Legalized?</h2>
<p style="text-align: justify">In a significant development, lawmakers submitted a critical bill on cryptocurrency mining to the State Duma in November 2022. The bill presented was about legalizing cryptocurrencies. The proposed legislation specifies the process of selling the cryptocurrencies produced by miners, within a general framework of clear regulations related to the advertising and offers of cryptocurrency.</p>
<p style="text-align: justify">Furthermore, the bill allows the sale of mined cryptocurrency on foreign platforms without using Russian information infrastructure. Miners are able to possess cryptocurrencies through foreign systems in accordance with international regulatory limits or via special platforms established as part of an experimental initiative. Regardless, miners are required to report transactions involving the sale of cryptocurrency to the Federal Tax Service.</p>
<p style="text-align: justify">In this context, Anatoly Aksakov, the Chairman of the State Duma Financial Market Committee, had expressed an opinion that a comprehensive bill regulating cryptocurrency mining could come into effect in 2024, following the summer of 2023.</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/russia-considers-allowing-crypto-mining-exports-comparable-to-natural-gas-trade/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/russia-considers-allowing-crypto-mining-exports-comparable-to-natural-gas-trade/</a>

Russia Considers Allowing Crypto Mining Exports Comparable to Natural Gas Trade

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