The Ministry of Energy will increase electricity transmission rates for legal entities engaged in cryptocurrency mining by two to five times. The objective of the increase is to force mining centers to move to regions with excess capacity.
The agency plans to increase prices in energy-scarce regions, including the Irkutsk region, the most popular for cryptocurrency mining, Kommersant reported. The ministry did not respond to the publication’s request.
Mining farm owners believe that the Ministry of Energy’s initiative discriminates against legal consumers of electricity and will lead to the closure of the industry due to losses.
- The draft law on mining was submitted to the State Duma in November 2022, the amendments were to be approved in the first reading in December 2022, but the document has not yet passed this stage. In its final form, it was planned to adopt amendments to the law “On digital financial assets, digital currency and on amendments to certain legislative acts of the Russian Federation” in the second and third readings in January 2023.
- In January 2023 the form of taxation under the mining bill was still being debated; it was planned to establish an analogue of a single tax on imputed income, the rate of which varies from 7 to 15%, or a profit tax. of 20%.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
