A crypto forum was held in Russia

Regulation of the cryptocurrency market in the Russian Federation is moving very slowly, although this industry could potentially bring significant contributions to the budget. Participants stated this RBC-Crypto forum “Mining and cryptocurrencies: architecture of growth.”

According to the Industrial Mining Association, large data centers for cryptocurrency mining could provide liquidity for cross-border transactions worth more than 240 billion rubles.

In addition, the introduction of specialized laws would make it possible to solve the problems of settlements between Russian businesses and foreign partners. However, over several years of discussion, officials have made no progress on this issue, noted Andrei Lugovoy, first deputy chairman of the State Duma Committee on Security and Anti-Corruption.

According to him, only the tone of the discussions has changed – cryptocurrency is simply no longer equated with criminal activity.

He also called the lack of regulation of the crypto market in the Russian Federation “playing along with the sanctions policy against the country.”

Deputy Chairman of the State Duma Committee on Information Policy, Information Technologies and Communications Anton Gorelkin believes that the current situation only plays into the hands of the Bank of Russia, providing it with “mental comfort.”

Forum participants also discussed market prospects DFA. According to Moscow Exchange, its “breakthrough” volume is at around 3-5 trillion rubles, which can be achieved within three years.

Previously, the tax potential of mining in the Russian Federation, with the introduction of balanced regulation, was estimated at 50 billion rubles annually after 2025.