According to ChainCatcher, Russia’s cryptocurrency mining bill proposes to ban mining activities in “energy-poor” areas, and the proposed bill is expected to be passed in August.
Representatives of the Russian cryptocurrency mining industry have not yet agreed to certain provisions of the cryptocurrency mining bill. The Industrial Mining Association (IMA) sent several letters to the State Duma, asking for the exclusion of these decisions. The organization believes that this poses certain risks to the country's mining investors and represents a "violation of the balance between private and public interests." The association recommends that if this specific provision is eventually adopted into law, the rules should describe the procedure for approving the ban and include compensation for investors affected by the decision.
The Russian Energy Ministry deemed this acceptable but left the decision to the State Duma. Confirming the possibility of a mining ban does not mean that a ban will be enacted in the first place. Anton Gorelkin, one of the co-authors of the bill, said: "The detailed conditions and framework for banning mining in individual regions should be determined through discussions with the participation of industry representatives."
