Cryptocurrency mining should be recognized as a type of entrepreneurial activity with its own OKVED classifier and taxation procedure. This position was expressed by representatives of the Ministry of Economic Development, the Ministry of Energy and the State Duma in a conversation with Izvestia.
The Ministry of Energy explained that the mining of cryptocurrencies fully corresponds to the definition of entrepreneurial activity according to the Civil Code of the Russian Federation. The ministry also noted that the relevant amendments will increase budget revenues, and in the near future they expect proposals from the business community.
The Ministry of Energy stated that the legalization of cryptocurrency mining will allow determining the type of load consumed at the stage of joining the miner to the power grid, since it is significantly different for everyday needs and certain types of business activities.
The head of the State Duma's financial market committee, Anatoly Aksakov, also supports the idea. According to him, among other things, increased electricity tariffs may be applied to miners.
"Obviously, it is necessary to assign OKVED to mining, determine the taxation procedure and receive income from this type of activity," the deputy said.
The Bank of Russia has a different opinion. The department noted that "they do not support initiatives that contribute to the emergence of monetary surrogates."
Earlier, Russia became one of the world leaders in bitcoin mining volumes.