news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Luna coin news today tamil | New Token Coming | Luna Classic | Luna coin tamil | Luna coin latest

    Luna coin news today tamil | New Token Coming | Luna Classic | Luna coin tamil | Luna coin latest

    Ripple XRP Price News Today Technical Analysis – Ripple XRP Price Now! Elliott Wave Analysis!

    Ripple XRP Price News Today Technical Analysis – Ripple XRP Price Now! Elliott Wave Analysis!

    🚨 Crypto Big Crash ? | Top Altcoin to buy Now | Crypto News Today | Bitcoin News | Luna Coin News

    🚨 Crypto Big Crash ? | Top Altcoin to buy Now | Crypto News Today | Bitcoin News | Luna Coin News

    How Terra Luna Changed EVERYTHING in Crypto (#1 Takeaway)

    How Terra Luna Changed EVERYTHING in Crypto (#1 Takeaway)

    Something MASSIVE coming for Bitcoin! – Cryptocurrency News Today

    Something MASSIVE coming for Bitcoin! – Cryptocurrency News Today

    VeChain (VET) Price News Today – Technical Analysis Update, Price Now! Elliott Wave Analysis!

    VeChain (VET) Price News Today – Technical Analysis Update, Price Now! Elliott Wave Analysis!

    15/05/2022| Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    15/05/2022| Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    15 May 2022 बड़ी ख़बर 🚨 Luna Crypto News Today | Why Crypto Market Going Down Today

    15 May 2022 बड़ी ख़बर 🚨 Luna Crypto News Today | Why Crypto Market Going Down Today

    Crypto news today | Shiba inu coin news today | Crypto market crash today | luna crypto coin news

    Crypto news today | Shiba inu coin news today | Crypto market crash today | luna crypto coin news

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Luna coin news today tamil | New Token Coming | Luna Classic | Luna coin tamil | Luna coin latest

    Luna coin news today tamil | New Token Coming | Luna Classic | Luna coin tamil | Luna coin latest

    Ripple XRP Price News Today Technical Analysis – Ripple XRP Price Now! Elliott Wave Analysis!

    Ripple XRP Price News Today Technical Analysis – Ripple XRP Price Now! Elliott Wave Analysis!

    🚨 Crypto Big Crash ? | Top Altcoin to buy Now | Crypto News Today | Bitcoin News | Luna Coin News

    🚨 Crypto Big Crash ? | Top Altcoin to buy Now | Crypto News Today | Bitcoin News | Luna Coin News

    How Terra Luna Changed EVERYTHING in Crypto (#1 Takeaway)

    How Terra Luna Changed EVERYTHING in Crypto (#1 Takeaway)

    Something MASSIVE coming for Bitcoin! – Cryptocurrency News Today

    Something MASSIVE coming for Bitcoin! – Cryptocurrency News Today

    VeChain (VET) Price News Today – Technical Analysis Update, Price Now! Elliott Wave Analysis!

    VeChain (VET) Price News Today – Technical Analysis Update, Price Now! Elliott Wave Analysis!

    15/05/2022| Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    15/05/2022| Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    15 May 2022 बड़ी ख़बर 🚨 Luna Crypto News Today | Why Crypto Market Going Down Today

    15 May 2022 बड़ी ख़बर 🚨 Luna Crypto News Today | Why Crypto Market Going Down Today

    Crypto news today | Shiba inu coin news today | Crypto market crash today | luna crypto coin news

    Crypto news today | Shiba inu coin news today | Crypto market crash today | luna crypto coin news

No Result
View All Result
news4global
No Result
View All Result
Home Bitcoin

Bitcoin Mining Gathers Support in Russia as More Details Emerge on International Crypto Payments

May 30, 2022
Reading Time: 3 mins read
0
Bitcoin Mining Gathers Support in Russia as More Details Emerge on International Crypto Payments
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

June 22, 2022
Elon Musk Discusses Crypto Investing, Dogecoin Support, ‘Unresolved’ Twitter Issues, and Near-Term Recession

Elon Musk Discusses Crypto Investing, Dogecoin Support, ‘Unresolved’ Twitter Issues, and Near-Term Recession – Featured Bitcoin News

June 21, 2022
Source: Adobe/amixstudio

 

Bitcoin (BTC) and crypto miners in Russia are using more energy than the nation’s agricultural sector, says the Ministry of Industry and Trade – while MPs are set to vote on a bill that would allow international traders to pay for goods in crypto or accept payments made in cryptoassets.

Per Vedomosti, the Deputy Minister of Industry and Trade Vasily Shpak claimed that over 2% of all the electricity consumed in Russia is now being used to power crypto mining rigs.

Shpak, who was speaking at an event operated by the ruling United Russia Party, stated that miners were spending more than farmers on electricity, and added:

“As such, we cannot do anything else except recognize mining as a form of industry. […] Our position is absolutely unambiguous: Mining must be recognized, regulated, and classified as industrial activity.”

The ministry has been insistent on recognizing, legalizing, and taxing crypto mining for months – and favors a system whereby miners would be forced to register with a central governing body.

Industrial miners are also keen to see such a system introduced, but the Central Bank remains a massive stumbling block. The bank wants instead to ban crypto mining – and all forms of crypto trading and ownership in Russia.

Meanwhile, the same media outlet claims that it has obtained a copy of the most-recently updated bill on crypto regulation proposed by the Ministry of Finance. The bill was first formulated back in February, since when a number of parties – including other ministries – have had their say on the draft legislation.

MPs have previously vowed that the bill will pass through the State Duma before the end of the current (Spring) session. With MPs set to leave the chamber on August 2, the ministry faces a race against time if it wishes to pull this off.

But the updated bill, Vedomosti claimed, contains interesting reading for international traders – who, per a newly inserted clause – would be allowed to accept crypto payments, or pay for goods and services using cryptoassets.

Providing certain transparency conditions are met, the terms of the bill reportedly allow both “legal entities and individual entrepreneurs” to “pay foreign trade contracts,” for “goods, work, services, intellectual activity, and so on” using crypto.

The ministry, the report noted, had been thinking of creating a separate bill on crypto pay in international trade, with a view of introducing it in 2023, but the current “geopolitical situation” had forced it to reconsider. Instead, the media outlet reported, it has decided to include the proposal as a new clause in the draft law.

The proposal allegedly has the support of the Ministry of Economic Development, which also wants to fast-track the legislation.

The news agency Interfax further reported that Ivan Chebeskov, the Director of the Financial Policy Department at the Ministry of Finance, had told United Russia Party officials at the aforementioned event:

“The issue of using digital currencies in barter transactions for international settlements is being actively discussed. If a digital currency is recognized as a form of property, in principle, within the framework of a barter transaction involving a digital currency, it will be possible to carry out foreign economic operations.”

Chebeskov stated that the “topic” was “being discussed” and “deserves attention,” due to the fact that Russia has “limited possibilities for settlements in the classical, traditional payment ecosystem.”

____

Learn more: 
– Russia: Only Industrial Players May Be Allowed to Mine Bitcoin & Crypto
– Time to Legalize and Tax Bitcoin Mining in Russia, Say Deputy PM, Academic & Think Tank

– Russia Mulls Crypto for Int’l Payments
– Russian Crypto Regulation Can’t Be Delayed any Longer, Claims Top MP

– Russia to Legalize Crypto for Payments ‘In Some Format or Other’ – Minister
– Putin Bids to Create New International Settlements Platform, Reform Foreign Currency Rules

Share76Tweet47

Related Posts

Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

by admin
June 22, 2022
0

Bitcoin (BTC) checked losses while United States equities drifted down on June 22 as the Federal Reserve kept quiet on...

Elon Musk Discusses Crypto Investing, Dogecoin Support, ‘Unresolved’ Twitter Issues, and Near-Term Recession

Elon Musk Discusses Crypto Investing, Dogecoin Support, ‘Unresolved’ Twitter Issues, and Near-Term Recession – Featured Bitcoin News

by admin
June 21, 2022
0

Tesla and Spacex CEO Elon Musk has shared his views on a variety of topics, including crypto investing, why he...

Crypto Industry Is Still ‘Embryonic,’ WEF Finance Lead Says

Crypto Industry Is Still ‘Embryonic,’ WEF Finance Lead Says

by admin
June 21, 2022
0

Don't miss CoinDesk's Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June...

Marcy Residents React Poorly To Jay-Z And Jack Dorsey’s The Bitcoin Academy

Marcy Residents React Poorly To Jay-Z And Jack Dorsey’s The Bitcoin Academy

by admin
June 20, 2022
0

In time, The Bitcoin Academy will probably be remembered as Jay-Z’s biggest contribution to Marcy, the neighborhood that saw him...

US energy company opens crypto mining facility in Middle East to use stranded natural gas By Cointelegraph

Korea Prosecutors Issue Departure Ban on Terra Main Designers By CoinQuora

by admin
June 20, 2022
0

Korea Prosecutors Issue Departure Ban on Terra Main Designers South Korea’s Joint Financial and Securities Crime Investigation have imposed a...

Load More
  • Trending
  • Comments
  • Latest

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

March 4, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services – Regulation Bitcoin News

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services – Regulation Bitcoin News

June 22, 2022
Crypto broker Voyager likely to issue default notice to Three Arrows

Crypto broker Voyager likely to issue default notice to Three Arrows

June 22, 2022
Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

Bitcoin price rises to $20.7K as Fed’s Powell says more rate hikes ‘appropriate’

June 22, 2022
Pharrell Williams Joins Doodles NFT Project as Chief Brand Officer

Pharrell Williams Joins Doodles NFT Project as Chief Brand Officer

June 22, 2022

Latest News

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services – Regulation Bitcoin News

Wechat to Prohibit Accounts From Providing Some NFT and Crypto Services – Regulation Bitcoin News

June 22, 2022
Crypto broker Voyager likely to issue default notice to Three Arrows

Crypto broker Voyager likely to issue default notice to Three Arrows

June 22, 2022

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global