Russia Will Not Try to Ban Home Crypto Mining, Finance Ministry Official Indicates

A senior finance ministry official in Moscow sees no point in banning crypto mining in Russian households because it would be difficult to restrict activity. The top official added that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia's crypto space.

According to Alexei Yakovlev, deputy director of Russia's finance ministry's monetary policy department, there is no point in trying to ban crypto-mining at home because it would be difficult to impose such a ban. He made the remarks at a roundtable discussion dedicated to the legitimacy and control of the industry.

The ministry is now finalizing new provisions that would legalize this crypto-related activity, Yakovlev announced during a video conference call, quoted by crypto news outlet Forklog. The Russian authorities want to emphasize that the activities of this sector are economically feasible.