The State Duma will create a working group to regulate cryptocurrency mining – Bits Media

First Deputy Chairman of the Committee on Security and Anti-Corruption Andrei Lugovoy proposed forming a working group to provide legislative support for the legalization of mining in Russia.

At the plenary session on Thursday, 11 November, Andrey Lugovoy noted, what After the adoption of the law on digital financial assets last year, Russia continues to lose tax revenues and “has been standing still for a year and a half” in terms of regulating cryptocurrency mining. The deputy emphasized, that a discussion of this issue is ripe and proposed to legalize mining.

“We have prepared a bill, and we will introduce it without fail", - said the parliamentarian.

He considers, that miners enrich themselves annually by $2 billion at the expense of the Russian population and at the same time do not pay taxes. Besides, the lack of regulation of mining and circulation of cryptocurrencies does not allow law enforcement agencies to identify signs of crimes in the activities of individuals in order to make the necessary procedural decisions.

Chairman of the State Duma Vyacheslav Volodin supported the deputy’s proposal and instructed to create an inter-committee working group to regulate cryptocurrency mining. Information appeared earlier, that the Ministry of Economic Development advocates the recognition of mining as a business activity. The head of the Committee on Financial Markets in the State Duma, Anatoly Aksakov, also supported the initiative..