The draft resolution presented by the Ministry of Energy provides for a five- to tenfold increase in electricity transmission tariffs for companies engaged in cryptocurrency mining. However, according to the Ministry of Digital Development and the Federal Antimonopoly Service, the Ministry of Energy’s proposal will discriminate against companies, negatively affect the work of data processing centers, and complicate the work of the information infrastructure.
The FAS believes that restrictions on energy consumption should be lifted from mining companies when the territory is no longer energy-deficient. The Ministry of Digital Development warns that the criteria for including electricity consumers in the registers of mining centers are not clearly developed, and expresses concern that an excessively large number of consumers will be included in them.
The Ministry of Digital Development proposes to separate mining companies and data processing centers by creating a special register for the latter. Otherwise, the Ministry of Energy’s initiative will undermine the normal operation of critical information infrastructure.
Earlier, the State Duma Committee on Financial Markets approved the final version of the draft law on restrictions on the circulation of cryptocurrencies in Russia. The first reading is scheduled for July 23, 2024.
Source: Bits

I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.