Power engineers explained the benefits of mining for their industry

   The cryptocurrency and mining industry has more of a positive than negative impact on the energy sector and the economy as a whole. This conclusion was made by the participants of the meeting headed by Valery Seleznev, First Deputy Chairman of the State Duma Committee on Energy. Igor Runets, the founder and CEO of the BitRiver mining company, who took part in the meeting, told RBC-Krypto.

   According to Andrei Kataev, a board member and director of energy markets and external relations at System Operator of the Unified Energy System (SO UES), "responsible miners" contribute to smoothing out electricity consumption peaks. He also added that miners contribute to lowering the final price of electricity and reducing CO2 and pollutant emissions by loading more efficient and low-carbon generation.

   The negative consequences of retail household miners, which lead to numerous accidents in the power grid complex, can be eliminated, according to Kataev. According to him, this can be achieved through systematic work of regulators on differentiation of tariffs for the population depending on the volume of electricity consumption and close interaction of power supply companies with Internet providers regarding exchange of information on connection of miners.

   Earlier, the Central Bank said that mining poses significant threats to the country's economy and citizens. According to the regulator, mining creates demand for infrastructure for cryptocurrency transactions, which creates incentives to circumvent regulation.

   On January 20, the Bank of Russia released a report for public discussion in which it proposed to ban in Russia the issue, circulation and exchange of cryptocurrencies, as well as the organization of these operations. The regulator also considers it necessary to ban the mining of digital assets and start monitoring investments of Russians in cryptocurrency on foreign trading platforms.

   Currently, Deputy Prime Minister Dmitry Chernyshenko has approved a roadmap that proposes regulation of cryptocurrencies rather than their prohibition, identification of clients, responsibility for illegal circulation of digital assets, as well as development of a methodology for assessing the value of cryptocurrencies. Representatives of the Ministry of Finance, Ministry of Economic Development, Prosecutor General's Office, Rosfinmonitoring, Federal Security Service, Ministry of Internal Affairs, Federal Tax Service, Ministry of Finance and the Bank of Russia participated in the development of the roadmap.

   On January 26, Russian President Vladimir Putin urged the government and the Central Bank to reach a consensus on the regulation of digital assets. The head of state said that he was familiar with the discussion on the regulation of cryptocurrencies.


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