While a top executive at the Russian central bank is taking a softer stance on crypto mining, there is a catch. And hodlers might not like it.
Kirill Pronin, head of the Russian Central Bank ’s department of financial technologies, acknowledged the possibility of crypto mining legalization under certain conditions. A public acknowledgment like this makes a rare case, as the CBR continues to lead the battle against the efforts to legalize crypto in the country.his views on mining at the Saint-Petersburg International Legal Forum on Wednesday, June 29.
"Despite the fact that we are speaking up consistently for the prohibition of cryptocurrencies’ turnover [...] the discussion regarding mining’ legalization is possible." However, Pronin named several conditions that, according to him, make this discussion possible. He insisted that the mined assets should be sold strictly abroad and in exchange for fiat money:
"Ultimately, we must say that there should be an export of these mining services, and the mining business shouldn’t lead to accumulation of cryptocurrency in the country, so there won’t be a motivation for a further usage in the internal payments.
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