Deputy Head of the Russian Presidential Administration at the Sberbank conference “FI day. Blockchain: on the threshold of the financial era” stated that in the next five to ten years, due to the development of mining, the problem of electricity shortage may appear in the country.

Maxim Oreshkin said that there are currently no “problems with the utilization of electrical energy” in the country. According to the official, due to the rapid development of mining, “certain components of the national energy system” have become energy-scarce:

“The question is: can we create capacity in the new conditions at a price that would be competitive for mining?”

Measures should be taken in advance to ensure that the energy system operates stably and market participants can mine digital assets without causing disruptions in the functioning of networks, said the deputy head of the presidential administration.

Previously the government approved
bill on taxation of transactions with cryptocurrency. According to the text of the law, mining infrastructure operators will be required to transmit information about the services provided to the tax service, and income tax and personal income tax will be applied to transactions with cryptocurrency.