The Fate of Mining and Cryptocurrencies in Russia
Representatives of the cryptocurrency industry together are trying to defend the possibility of using blockchain technologies in the Russian Federation. As part of the discussion of the bill on digital financial assets (DFA), about 30 companies prepared arguments on why cryptocurrencies and mining should not be prohibited in Russia, and only a few of them gave specific details.
For instance, representatives of the fintech company PointPay prepared a feasibility study showing that the allocation of available reserves of electricity and capacity from hydroelectric power stations for mining cryptocurrencies could potentially bring more than 98.2 billion rubles in tax payments to the federal budget. This amount is comparable with the revenue side budget of Belgorod region.
These and other arguments were discussed yesterday at a meeting at the Russian Ministry of Economic Development.
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