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<p style="text-align: justify">The Russian Ministry of Finance is assessing the idea of allowing the export of cryptocurrencies obtained from mining activities in the country. According to the ministry, this mechanism is expected to operate in a manner similar to the country’s natural gas exports.</p>
<h2 style="text-align: justify" id="russia-may-allow-miners-to-sell-cryptocurrency-as-an-export-good">Russia May Allow Miners to Sell Cryptocurrency as an Export Good</h2>
<p style="text-align: justify">At a meeting on the future of cryptocurrency and digital <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">finance</a>, Deputy Finance Minister Ivan Chebeskov suggested that Russian miners could be permitted to sell their cryptocurrencies as an export good. 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, we have developed a concept, a project, that allows a miner to export the product they mine, namely the cryptocurrency, as an export good. A legal initiative is being created in our country as well.</p>
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<p style="text-align: justify">Russia, with its abundance of resources and capacity 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-become-legal">Will Crypto Mining Become Legal?</h2>
<p style="text-align: justify">In a significant development, lawmakers introduced a critical bill regarding cryptocurrency mining to the State Duma in November 2022. The bill was about legalizing cryptocurrencies. The proposed legislation specifies the process for miners to sell the emerging cryptocurrencies, within the general framework of clear regulations related to the advertisement and offers of 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 through special platforms established as part of an experimental initiative. Regardless of the method, miners are required to report transactions involving the sale of cryptocurrencies to the Federal Tax Service.</p>
<p style="text-align: justify">In this context, Anatoly Aksakov, the Chairman of the State Duma’s Financial Market Committee, expressed the view that a comprehensive bill regulating cryptocurrency mining could come into effect in the summer of 2023 and be implemented by 2024.</p>
<p>“`</p> <span style="font-weight:bold;font-size:16px">Continue Reading:</span> <a href="https://en.coin-turk.com/russia-considers-permitting-crypto-exports-for-miners-similar-to-natural-gas/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/russia-considers-permitting-crypto-exports-for-miners-similar-to-natural-gas/</a>

Russia Considers Permitting Crypto Exports for Miners Similar to Natural Gas

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