Russian Ministries, Duma Want to Legalize Crypto Mining: Report

Russian Ministries, Duma Want to Legalize Crypto Mining: Report
Crypto mining should be legalized and regulated as an entrepreneurial activity, Russia’s Ministry of Economic Development, the Ministry of Energy, and the State Duma, according to a report from local site Izvestia.The Ministries and the Duma, Russia’s lower house of representatives, want crypto miners to be recognized as entrepreneurs, Izvestia says. However, the Russian central bank does not support this initiative, citing the risks associated with crypto, according to the report from Monday.As of August, Russia is the world’s third-largest bitcoin mining country, after the U.S. and Kazakhstan, according to the Center of Alternative Finance at the University of Cambridge.The…