Home mining will not be banned in Russia

A ban on household mining in Russia makes no sense. This was stated during the round table by DeputyAleksey Yakovlev, Director of the Financial Policy Department of the Ministry of Finance.

“We believe that it is necessary to concentrate on the development of industrial mining, but it probably does not make sense to ban household mining”- stressed the official.

Yakovlev said that in the near future the Ministry of Financewill finalize the provisions on the regulation of mining. Emphasis will be placed on the maximum economic feasibility of cryptocurrency mining and “risk minimization in terms of combating money laundering and the financing of terrorism and ensuring the country’s energy security.”

Let us recall that the definition of mining and the basic mechanisms for its regulation are spelled out in the Ministry of Finance bill “On Digital Currency”.

In February, the Ministry of Economic Developmentproposed to allow the activities of miners in regions with a stable surplus of electricity generation and introduce acceptable tariffs for its use for companies. In turn, the Ministry of Energy advocated regional mining quotas.

Previously, Russian Prime Minister Mikhail Mishustinacknowledged the need to integrate cryptocurrencies into the Russian economy, noting that relevant decisions must be made jointly with the Central Bank of the Russian Federation. In turn, the regulator still advocates a complete ban on the circulation and mining of cryptocurrencies, despite the sanctions.

Mining will have a beneficial effect on the development of the Russian economy

Russia has competitive advantages inmining market and can use it as a source of export revenue. This was stated by the financial director of the EMCD pool Stanislav Akulinkin during a round table at the Public Chamber of the Russian Federation.

According to him, the legalization of cryptocurrency mining will have a beneficial effect on the development of the Russian economy.

“Mining is a clear source of export revenueFor Russia. It is carried out on the territory of the country, energy sources and security are involved in the process. This is a real business in which Russia has a competitive advantage, since the electricity surplus in the country is about 24 billion kWh per year. Now Russian miners are producing about $4 billion,”- Akulinkin emphasized.

Uncontrolled mining of cryptocurrencies is fraught with power outages, increased cross-subsidization and power outages, said BitRiver CEO Igor Runets.

“Regulation will allow direct useenergy resources of the country, since mining is, in fact, the export of electricity without wires. In the future, this will increase energy consumption in Russia and reduce electricity tariffs.”- he added.

Runets also did not rule out that for the Russian Federation, cryptocurrencies could become "part of the country's sovereignty in the new economy."

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest crypto exchange in the world is Binance. The platform supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	AAX	https://aax.com	7.2
4	Exmo	https://exmo.me	6.9
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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