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Business Duty Officer

Experts discussed the boom of gray mining in Russia: crypto miners have to pay extra

Experts discussed the boom of gray mining in Russia: crypto miners have to pay extra

On Wednesday, 8 February, in the press center of the newspaperMoscow's comsomolets» a round table was held on the topic: “Not gray mining: effective methods of influencing illegal cryptocurrencies". Participants of the event discussed acute problems, that arose in Russia along with the boom of illegal cryptocurrency miners, and also suggested possible ways to solve them.

Russia has regions, which, like a magnet, attract modern gray entrepreneurs. A striking example is the Irkutsk region, where from 2018 of the year, due to the lowest electricity tariffs in the country, the number of miners has tripled and continues to grow.

Thoughtless placement of cryptocurrency mining equipment in apartments and basements of residential buildings, in garages, as well as in the territories of SNT leads to an excessive load on local electrical networks and is increasingly becoming the cause of emergency shutdowns and domestic fires.

Internet Ombudsman Dmitry Marinichev noted, what is for young people, which make up the majority of cryptocurrency miners in Russia, mining is easy money.

Head of the Expert Center for Criminal Law Policy and Enforcement of Judicial Acts of Business Russia and Ambassador of the Alliance “Business Duty Officer” Ekaterina Avdeeva suggested, that a complete ban on mining in Russia is impossible. "It's better to regulate this activity, make it taxable and define the rules, on which miners should act, paying tax. It will be beneficial for society as well., and for the state, - said Ekaterina Avdeeva.

Together with the issues of transferring gray mining to the legal field, experts discussed ways to support the power grid infrastructure, in particular, introduction of tariffs for electricity at a progressive rate - depending on the level of consumption. Such a stimulus tariff would help to identify illegal consumers and, in doing so, could affect no more than 2% households.

“Differentiating the cost of electricity is quite simple.. If we calculate the volume of electricity consumption of one household, the limit is 7500 kilowatt hours per month. Mining equipment consumes a multiple more, and it's pretty easy to cut it off.", - convinced the Deputy Director of the Association "Community of Energy Consumers" Valery Dzyubenko.

“The myth of a cheap tariff brought major players to the regions. Today, there is no longer something like power, but there is no piece of land, where someone wouldn't build a data center for cryptocurrency mining", - noted the deputy of the Legislative Assembly of the Krasnoyarsk Territory Denis Terekhov.

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