Russian ministries and Russia’s lower house of representatives, the Duma, reportedly want crypto-asset miners to be recognized as entrepreneurs.
According to local news site Izvestia, the Ministry of Economic Development, the Ministry of Energy and the Duma want to recognize crypto-asset miners as entrepreneurs. On the other hand, the Russian central bank does not support this move, citing crypto-related risks.
The news also included statements by the Ministry of Economy that the said regulation is beneficial for the country and the crypto asset industry and that it fits well with the definition of entrepreneurship in the Russian civil law.
According to Cambridge University data, Russia has become the third largest bitcoin mining country in the world as of August, after the USA and Kazakhstan. Institutions want to create a new classification code that they can use to register mining companies. Anatoly Aksakov, head of the Duma’s finance committee, said in a statement that crypto-asset mining is not prohibited in the country, but the rules regarding taxation are unclear. Aksakov also suggested the possibility of demanding higher electricity tariffs from miners than from other consumers.
