According to various Russian media, the Moscow Ministry of Telecommunications and Mass Media wants to develop its own detection system for crypto-miners.A�The signals from the ministries are very uneven.A�In part, there is talk of tax relief, either from increased electricity tariffs or a maximum electricity quota, which may not exceed the miners in the Russian Federation.
Currently, according toA�media reports,A�preparationsA�are under wayA�for new bills, which will probably be tabled in the Russian parliament on 1 February.A�In addition, the Ministry of Telecommunications and Mass Media (Minkomswjas) wants to recognize miners because of their power consumption and the data volume typical of their activity.A�Also, the approximate extent of the mining of cryptocurrencies supposedly be recognized.A�How this should be technically implemented is unfortunately not carried out in the publications available online.A�Already in October 2017A�,A�Russian regulators announced such recognition systems.A�Given such exceptional power consumption, it would not be difficult to uncover the miners, the new measures were announced in the fall.
According to the news agency RIA Novosti, executives of the Ministry of Energy have now announced that they consider the identification as possible as well as very time-consuming.A�The ministry proposed to limit the measures to those who wereA�miningoperate in the commercial and thus on a very large scale.A�There are also people who consume a lot of electricity per month in other ways.A�What the power is consumed, you can not see from the outside.A�The inspection of the data streams is also very time-consuming.A�One can not automatically call every user of streaming services a miner, just because it transmits a lot of data.A�As soon as the data is encrypted, for example, with a Virtual Private Network (VPN), the discovery of the miners is almost impossible.
There are also considerations that crypto-miners are released from the payment of taxes for two years after registration.A�In principle, they are not supposed to pay sales taxes, but after the expiry of the two-year period income taxes due to the increase in value of their wallets.A�Also regarding the tax break, the situation is not assessed uniformly.A�Deputy Finance Minister Alexei Moiseev told RIA Novosti that he could see no reason for a multi-year tax break.A�The Ministry of Telecommunications and Mass Media currently varies between a quota system on the one hand and special electricity tariffs for miners on the other.A�A spokesman for the Department of Energy, on the other hand, slowed expectations at a meeting last week.A�So far nobody could have explained to himA�why there should be discounted tariffs for this group of people.A�Within the Russian Federation, prices are already extremely cheap, which is where theMining hasA�strongly promoted.
At the moment it therefore remains to be seen whether at the end of the deliberations of the ministries a relief, a neutral regulation or even a kind of state blockade policy will emerge.A�If Ministers agree to a blockade, this, by its very nature, should have a very strong negative impact on the cryptocurrency market.