The Ministry of Economic Development of Russia has recommended against a proposed ban on advertising <a href="https://ultramining.com/news/en/immersion-cooling-transforms-chinas-crypto-mining-landscape/">mining equipment</a> in the new bill on digital currency mining. This suggestion was made during the interdepartmental discussion of Bill No. 237585-8, introduced by MPs in April, which aims to regulate digital currency mining, according to <a href="https://www.interfax.ru/russia/966050">Interfax</a>. 
Key Recommendations from the Ministry 
1. Clarification and Regulation: 
&nbsp;&nbsp;&nbsp;- The ministry insists on clearer definitions in the bill. 
&nbsp;&nbsp;&nbsp;- It calls for established rules on taxation and liability for digital currency mining violations. 
&nbsp;&nbsp;&nbsp;- The registration of miners through the state services portal should be mandatory. 
2. Advertising Mining Equipment: 
&nbsp;&nbsp;&nbsp;- The ministry opposes the ban on advertising mining equipment. 
&nbsp;&nbsp;&nbsp;- It argues that allowing advertising will help businesses and individuals legally acquire the necessary equipment, which does not pose a public danger. 
3. Digital Currency Circulation: 
&nbsp;&nbsp;&nbsp;- The bill bans the organization of digital currency circulation, except for those obtained through mining.&nbsp; 
&nbsp;&nbsp;&nbsp;- The Ministry of Economic Development supports this but suggests introducing penalties for violations. 
4. Sales and Reporting: 
&nbsp;&nbsp;&nbsp;- Digital currency mined can only be sold if it does not involve Russian infrastructure. 
&nbsp;&nbsp;&nbsp;- The ministry requests clarification on the legal and technical measures to ensure compliance. 
5. Registration and Control: 
&nbsp;&nbsp;&nbsp;- The bill proposes creating registers for miners and mining infrastructure operators. 
&nbsp;&nbsp;&nbsp;- The ministry suggests specifying that energy consumed by non-commercial miners should be paid at commercial rates. 
&nbsp;&nbsp;&nbsp;- It recommends a simplified registration process through the State Services portal, with a five-day processing time for applications. 
6. Regional Bans on Mining: 
&nbsp;&nbsp;&nbsp;- The government may prohibit mining in certain regions. 
&nbsp;&nbsp;&nbsp;- The ministry seeks clarity on how this will affect already registered miners and <a href="https://ultramining.com/news/en/crypto-miners-shift-gears-ai-is-the-new-gold-rush/">data centers</a> involved in related activities. 
The Ministry of Economic Development emphasizes the need for comprehensive regulation of cryptocurrency mining, including clear taxation procedures and liability measures. The bill was initially introduced in November 2022, and has undergone multiple revisions and discussions since then. The ministry's latest recommendations aim to ensure a balanced and clear regulatory framework for the growing digital currency <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/">mining industry</a> in Russia.

Ministry of Economic Development Opposes Ban on Advertising Mining Equipment

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