This week, the Russian Ministry of Finance presented a proposal to control the export of cryptocurrencies obtained through mining. It is assumed that the bill regulating activities in the field of digital currencies may come into force as early as 2024. The opinions of experts from Russia on this issue are divided.

Dmitry Noskov, an expert at the StormGain trading platform, noted that this proposal is probably one of many theoretical initiatives. He stressed that at the moment the cryptocurrency market and mining are not regulated in Russia, despite lengthy discussions on this issue. The bill is under consideration in the State Duma, and its adoption before 2025 is unlikely, Noskov believes.

Anton Toroptsev, CommEX Regional Director for the CIS and the Russian Federation, expressed the opinion that the establishment of a regulatory framework for mining is a necessity. Russia has one of the largest capacities in the world, thanks to affordable electricity and suitable climatic conditions.

Toroptsev also expressed skepticism about some provisions of the bill, especially the wording "export of cryptocurrencies", which, in his opinion, may be misinterpreted, since cryptocurrencies have a supranational character.

The specialist also stressed the difficulties of tracking the sale of coins mined in Russia, and noted that most miners are already registered on foreign crypto exchanges and trading platforms where they trade.

Toroptsev proposed a more realistic way to regulate mining, including licensing companies and increasing the cost of electricity for data centers (data centers). These measures, in his opinion, can contribute to the development of the industry in a more favorable environment.