In Russia, it was proposed to classify mining as a type of entrepreneurial activity

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Cryptocurrency mining should be recognized as a type of entrepreneurial activity with its own OKVED classifier and taxation procedure. This position was expressed in a conversation with Izvestia by representatives of the Ministry of Economic Development, the Ministry of Energy and the State Duma.

The Ministry of Economics explained that the mining of cryptocurrencies is fully consistent with the definition of entrepreneurial activity in accordance with the Civil Code of the Russian Federation. The department also noted that the relevant amendments will increase budget revenues, and in the near future they expect proposals from the business community.

The Ministry of Energy said that the legalization of the mining of cryptocurrencies will allow at the stage of connecting the miner to the power grid to determine the type of load consumed, since it differs significantly for everyday needs and certain types of entrepreneurial activity.

Anatoly Aksakov, head of the State Duma’s financial market committee, also supports the idea. According to him, among other things, increased electricity tariffs may be applied to miners.

“Obviously, it is necessary to assign OKVED to mining, determine the taxation procedure and receive income from this type of activity,” the deputy said.

The Bank of Russia has a different opinion. The department noted that “they do not support initiatives that contribute to the emergence of monetary surrogates.”

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