Despite the fact that we (the Central Bank of the Russian Federation - TASS note) consistently advocate a ban on the circulation of cryptocurrencies,discussion from the point of view of legalization of miningpossible. <…> The legalization of mining can be discussed; a number of conditions should be specified here, which, in our opinion, must be met in this regard. Firstly, we assume that the cryptocurrency, which will be generated as revenue from the miner, should be sold for fiat, but outside of Russia. By and large, we are talking about the fact that there should be an export of mining services and the business of miners should not lead to the accumulation of cryptocurrency within the country so as not to create motivation for its subsequent use in intra-country payments
It is necessary to introduce regulations establishing responsibility for the use of cryptocurrency in payments.
Moreover, it seems to us that in addition to the prohibitionon the use of cryptocurrency in settlements, which today is already in the 259th federal law (Federal Law of July 31, 2020 No. 259-FZ "On digital financial assets, digital currency and on amendments to certain legislative acts of the Russian Federation" - ed.). TASS), it is necessary to create more corresponding rules on liability for violation of this prohibition
The Central Bank sees no opportunity for dialogue on the issueinvolvement of financial market participants in the circulation of cryptocurrencies. In addition, we still believe that it is inappropriate to involve existing financial market participants in the circulation of cryptocurrencies, and, accordingly, here we also do not see any space for dialogue in this regard.
— Director of the Department of Financial Technologies of the Bank of Russia Kirill Pronin
The Central Bank called the export of mining services a condition for discussing the legalization of mining in the Russian Federation - TASS (tass.ru)
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