Russia's Central Bank, Finance Ministry at odds over crypto mining

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In the event of its sale within Russia, miners would need to exchange it through an authorized organization. However, the draft bill does not specify that miners’ cryptocurrency must be sold only to non-residents, and the wording about the possibility of sale within Russia does not make clear that there would be only one authorized organization to process them.

“We cannot yet accept this new position from the Central Bank,” Moiseev said. “In effect, all mining which is not carried out within the experimental legal regime is banned. That is, all mining must be done through an authorized organization, and this amounts to total licensing. We are against it.” During one of the forum sessions, experts also highlighted the potential risks of miners selling cryptocurrency through foreign exchanges in the event of sanctions.

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