The Director of the Industrial Mining Association in Russia stated that after the adoption of the law on limiting the circulation of cryptocurrencies, the number of people wishing to mine is growing rapidly. A national cryptocurrency exchange will appear in the country in the near future, the Director added.

Sergei Bezdelov believes that the adopted law helped make the industry a full-fledged part of the domestic economy:

“The industry that was de facto is now also de jure. A huge, large industry with very interesting meanings. This includes artificial intelligence, data storage, and cryptocurrency mining derivatives. As well as the use of cryptocurrency in foreign economic activity, export-import calculations.”

The head of the Industrial Mining Association is confident that the creation of a state-controlled crypto exchange is a logical step in the development of the Russian cryptocurrency market:

“The number of miners will increase. I think that even public-private partnerships will be created, agreements in part, for example, maybe with some large corporations or public joint-stock companies.”

According to the draft law on cryptocurrency circulation and mining, only legal entities and individual entrepreneurs (IE) included in a special state register will be able to mine digital assets.

Earlier, Nikita Zuborev, senior analyst of the Bestchange.ru platform, said in an interview with RBC that the government could launch a quasi-state cryptocurrency exchange with shareholders in the form of the Ministry of Finance, the Bank of Russia, or entities affiliated with them.