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Russia’s Crypto Mining Bill ‘Has Stalled,’ Says Finance Ministry

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Russia’s crypto mining legalization bill has hit a last-minute obstacle, and the draft law’s progress has now “stalled,” the nation’s Ministry of Finance conceded.Per Finmarket, the nation’s Deputy Finance Minister Alexei Moiseev told reporters on Wednesday that the long-awaited bill – which proposes legalizing and taxing industrial crypto mining – had hit yet another late roadblock.Lawmakers broadly agree with the bill.

And they had hoped to speed its progress through the State Duma, Russia’s parliament, in December. Some had talked optimistically about the law coming into force as early as January 1.

This was then pushed back to February 1.But while most MPs have backed the bill, which they think will help raise much-needed treasury funds, the Central Bank has been less eager to give its approval.Moiseev was quoted as stating:“We have stalled again.

There are objections, now not only from the Central Bank, but also from law enforcement agencies, too. A number of meetings are planned on this matter.

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