Evgeny Grabchak, Deputy Minister of energy of Russia, said on Saturday that the authorities need to eliminate the legal vacuum in the field of cryptocurrency mining as soon as possible and carry out appropriate supervision, TASS reported on the 26th. Grabchak pointed out that due to the legal vacuum in the field of mining, it is very difficult to regulate mining and formulate clear rules of the game. It is necessary to eliminate the current fuzzy definition as soon as possible.
“If we want to get along with this activity in some way, then in the current situation, we have to introduce legal regulation and add the concept of mining to the national regulatory framework.”
Grabchak continued that it would be more effective to determine the location of miners and the released energy capacity in the country at the regional level than at the federal level; This part needs to supervise the miners through the regional development plan.
Consumption in Russia increased by 2.2%
Evgeny Grabchak, Deputy Minister of energy, told reporters at a press conference on the 22nd that although many production facilities were shut down in March, Russia’s consumption has increased by 2.2% since March.
“Because this year is colder than last year, considering the climate, the consumption will reach 2.4% at the end of the month.”
Grabchak also expects the consumption rate to reach 1.9% this year without considering the temperature factor and 3.6% in the future.
Turning to the southern energy system, grabchak said that considering the upcoming peak tourism season, energy consumption will exceed the expectation of the Ministry of energy: on the whole, we are optimistic about this, which is expected to fluctuate slightly, but it will end soon.
Putin: Russia has a competitive advantage in bitcoin mining
According to previous reports, Russian President Vladimir Putin believed at a government meeting in January that Russia had a competitive advantage in the field of cryptocurrency mining, and instructed the Russian government and the central bank to reach a consensus on the supervision of cryptocurrency and report the results.
Putin said at that time: we have specific competitive advantages, especially in the mining industry. China has excess power and has well-trained talents. Finally, the relevant units are also urged to note that the regulatory authorities are not trying to prevent technological progress, but to take the necessary regulatory measures for the country while adopting cutting-edge technologies in this field.
Post time: Apr-01-2022