In Russia the Industrial Mining Association has appeared. It was founded by Bitriver, Intelion Mine, Prominer, Stella and Sibstroykapital, which supply equipment and provide capacity for cryptocurrency mining.

In the Russian Federation the Industrial Mining Association has appeared

Members of the association plan to “whitewash” the industry and legally import cryptocurrency equipment and connect it to energy infrastructure, Vedomosti writes.

Bitriver’s director of interaction with government agencies, Oleg Ogienko, proposed that entrepreneurs who are operators of data centers for mining with energy consumption above 5 MW consume and pay for electric energy at a commercial rate, as well as carry out legal imports to the country. and operation, should be included in the industrial mining industry in mining equipment data centers.

The founders of the organization intend to maintain an active dialogue with regulators and create conditions in Russia for the development of white mining. In particular, it is planned to introduce industrial mining into a legal framework with transparent regulation and establish an industrial OKVED (all-Russian classifier of types of economic activities) for mining activities, develop taxes that meet international standards, as well as develop e implement industrial, technological and commercial standards.

One of the key areas of the association’s activities is the protection of bona fide market participants from competition from gray and black miners and the fight against unfair competition in all its forms, said Timofey Semenov, CEO from Intelion Mine. Other tasks include legally importing cryptocurrency mining equipment and connecting to energy infrastructure, Ogienko added.

In the future, the association will provide miners and other industry participants with a platform for the collective protection of their interests and rights, says Promminer founder Timofey Kuzmenko. He can represent association members in various situations, including legal disputes and negotiations with third parties, he concluded.

  • 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, 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.

Receive the latest news from the world of Web3 in the newsletter. Regularly.
No advertising.


Karina Pardaeva

Source: RB

Previous articleFair Play review: A brilliant blend of erotic thriller, ambition and violence
Next article‘The Killers of the Flower Moon’ became the most expensive movie in Apple TV+ history
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.


Please enter your comment!
Please enter your name here