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The Russian industry of blockchain and cryptocurrencies has blasted the bill on mining as the mature industry needs no excessive regulation and participation of the central bank, business daily Vedomosti reported on Monday. The Russian Association of Cryptoeconomics, Artificial Intelligence, and Blockchain (RACIB) sent the letter to the State Duma, the parliament’s lower house, on November 25. RACIB Executive Director Alexander Brazhnikov said the bill as is “will do Russia irreparable wrong.” A group of deputies submitted on November 17 amendments to the law on digital financial assets. The bill describes regulation of mining in the country. It defines mining, a mining pool, which is mining by several actors, and bans advertisements and offers of cryptocurrencies as well as services of their issuance on the country’s territory.
The Finance Ministry has supported a bill on legalisation of cryptocurrency mining in Russia that a group of deputies submitted to the parliament’s lower chamber State Duma on November 17, the authority said in its Telegram channel. Anatoly Aksakov, head of the State Duma committee on the financial market, told PRIME that the bill would legalise cryptocurrency mining and create a legal framework for regulation of the issues connected with the development and turnover of digital currencies.
The Russian state wants to regulate the online games market more strictly. In particular, they may be subject to the requirements of the Yarovaya package, that is, they may be required to store information about user messages and provide access to them to investigating authorities, Kommersant learned. Market participants fear that meeting these requirements will require new investment and pose risks for game publishers.
Russian President Vladimir Putin said late on November 25 he is waiting for breakthroughs from state industrial corporation Rostec in a range of high-tech industries, including electronics. “Since its creation, Rostec has been in charge of development, manufacture, and export of high-tech products not only of military but also of civil use. It is necessary not only to continue but to work proactively on all the core promising directions providing technological independence of Russia,” Putin said at an event dedicated to the 15th anniversary of the company. “Certainly, I am waiting for breakthrough results from Rostec in such industries as microelectronics and an electronic component base, aircraft construction, 5G connection equipment, and, on the whole, a more effective search for fulfilment and promotion of national high-tech solutions in all the fields that are important for the progress of our economy, that determine the modern quality of life of the people, that eliminate dependence on foreign supplies.”
120 RUSSIA Country Report December 2022 www.intellinews.com