Russia's Energy Minister Appeals For Crypto Mining To Be Legalized

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Evgeny Grabchak, the Deputy Minister of Energy, has urged the government to legalize space, citing the country's dire economic situation.

Grabchak's remarks follow the imposition of some of the toughest economic penalties against Russia in response to its invasion of Ukraine.

Russia is effectively cut off from the western banking system as a result of the sanctions.

The  Minister stated, The legal void must be filled as quickly as possible. We must create legal regulation, adding the notion of mining to the regulatory framework, if we want to get along with this activity and have no other options in the current reality.

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Grabchak believes it would be more efficient to regulate mining at the state and regional levels rather than at the federal level.