Kirill Pronin, head of Russian Central Bank (CBR)’s Department of financial technologies, has stated a condition to make crypto mining legal in Russia.
The executive expressed his views on mining at the Saint-Petersburg International Legal Forum on Wednesday, June 29. According to the CBR executive, the CBR doesn’t take the same kind of hardline position on mining, as in the case with the general crypto legalization.
In his words, ”Despite the fact that we are speaking up consistently for the prohibition of cryptocurrencies’ turnover […] the discussion regarding mining’ legalization is possible.”
Pronin however made mention of certain conditions to be met to make this possible. He insisted that the mined assets should be sold strictly abroad and in exchange for fiat money.
”There should be an export of these mining services, and the mining business shouldn’t lead to accumulation of cryptocurrency in the country,
‘so there won’t be a motivation for a further usage in the internal payments.” he further stated.
In other news, the Russia government recently launched its own blockchain system to replace SWIFT. The European country was banned by Western nations after its war on neighbors, Ukraine.
