Miners extracting cryptocurrencies burn over 2% of Russia’s electricity.
On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it.Miners extracting digital currencies account for more than 2% of the total volume of electricity consumed in the Russian Federation and their activities need to be “whitewashed” and regulated, Russia’s Deputy Minister of Industry and Trade Vasily Shpak stated.
Cryptocurrency mining is now in the “gray zone,” it’s not taxed in any way and creates risks for those involved in it, the government official noted during the event devoted to the development of blockchain technologies and the regulation of digital financial assets. Shpak is convinced that the industry can be brought out of the shadows and made transparent for the state.
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