Russian Ministry of Finance Official: Government Should Encourage Industrial-Grade Cryptocurrency Mining

According to reports, Alexey Yakovlev, the head of the Financial Policy Department of the Russian Ministry of Finance, said in a recent interview that the government should encourage the mining of industrial-grade cryptocurrencies. He noted that Russian officials long ago agreed on a regulatory framework for cryptocurrency mining companies, supporting their work and requiring them to pay taxes. Furthermore, he said, we believe it is necessary to focus on industrial mining, but banning household mining may not make sense.