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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 carried out within the country. The Ministry envisions that this mechanism could operate 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">Deputy Finance Minister <strong>Ivan Chebeskov</strong> suggested in a meeting focused on “The future of cryptocurrency and digital <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">finance</a>” that Russian miners could be permitted to sell their cryptocurrencies as an export commodity. Speaking to the Russian channel RBC, Chebeskov made the following statement:</p>
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 <p style="text-align: justify">There is an option and a draft law to use cryptocurrency exports as a product of mining activities. Just as there is special legislation for gas exports, for example, using this example, we have developed a concept, a project that allows a miner to export the product they have mined, namely the cryptocurrency, as an export product. Such a legal initiative is being created in our country as well.</p>
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<p style="text-align: justify">Russia, thanks to an abundance of resources and the ability to provide cheaper electricity, is home to many cryptocurrency miners. Chebeskov also emphasized that the Ministry of Finance and the Central Bank of Russia agree 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-be-legalized">Will Crypto Mining Be Legalized?</h2>
<p style="text-align: justify">In a significant development, lawmakers introduced a critical bill on cryptocurrency mining to the State Duma in November 2022. The bill was aimed at legalizing cryptocurrencies. The proposed legislation outlines the process for miners to sell the resulting cryptocurrency units, including clear regulations on advertising and offers related to the cryptocurrency.</p>
<p style="text-align: justify">Moreover, the bill allows for the sale of mined cryptocurrencies on foreign platforms without using the Russian information infrastructure. Miners can own cryptocurrencies through foreign systems in compliance with international regulations or via special platforms established as part of an experimental initiative. Despite this, any transactions involving the sale of cryptocurrencies by miners must be reported to the Federal Tax Service.</p>
<p style="text-align: justify">In light of this situation, the State Duma’s Finance Market Committee Chairman <strong>Anatoly Aksakov</strong> expressed an opinion that a comprehensive bill regulating cryptocurrency mining could come into effect in 2024, following the summer of 2023.</p>
<p>“`</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/russia-considers-legal-framework-for-exporting-cryptocurrencies-mined-within-its-borders/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/russia-considers-legal-framework-for-exporting-cryptocurrencies-mined-within-its-borders/</a>

Russia Considers Legal Framework for Exporting Cryptocurrencies Mined Within its Borders

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