Novak announced the release of a decree on limiting mining in Russia

The Russian government decree on limiting mining in some regions has already been prepared and will be issued in the near future. This was announced by Russian Deputy Prime Minister Alexander Novak on December 6 when answering Izvestia's question.

According to him, changes in the legislation will allow, on the one hand, to legalize mining and receive additional income to the budget, and on the other hand, to limit such activities in case of power shortage in certain regions. We are talking about the south of the Irkutsk region, the Transbaikal Territory and Buryatia, where the existing capacities are fully utilized.

"In principle, this is a live mechanism. We are ready to consider other proposals if the situation calls for it. But I would like to emphasize that the mining activity itself and the use of capacities in case there is a surplus of electricity - this is for the power industry, for the budget, too, an absolutely normal phenomenon. It is an opportunity to receive additional revenues. Therefore, we have not gone down the path of banning mining in general," Novak said.

The fact that the government will consider the proposal of the Ministry of Energy to ban the work of cryptocurrency miners in some regions from December 2024, became known on November 15. Then it was reported that the ban could be introduced in the Karachai-Cherkess Republic, Kabardino-Balkar Republic, North Ossetia-Alania, Ingushetia, Chechnya, Dagestan, Kherson and Zaporozhye regions, DNR and LNR.

On October 25, Russian President Vladimir Putin signed a law on transferring control over digital currency mining to the Federal Tax Service (FTS). The authorities have agreed on the taxation of transactions with cryptocurrencies - the relevant document was approved by the government on November 11, Izvestia found out.

On August 8, Putin signed a law that will allow from November to legalize cryptocurrency mining in the Russian Federation. The document allows Russian legal entities and individual entrepreneurs included in the register of the Ministry of Digitization to engage in this activity. In addition, Russians who do not have IEs will be able to engage in mining within the limits of energy consumption limits set by the government. They will also be entitled to carry out the activities of a mining infrastructure operator after being included in the register of such operators, which will also be maintained by the Ministry of Digitalization.