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Russia plans to tax miners while its universities introduce lectures on cryptocurrency

13 September 2017 21:00, UTC

The head of the State Duma’s committee dedicated to financial market has stated that experts he is working with propose to create a state registry of cryptocurrency miners.

“Just the other day, we have created the expert council on fintech that will focus on different modern technology applications. And one of them is cryptocurrency. We have concluded that cryptocurrencies should be legally defined, legalized, a special exchange platform must be built. [We also will] introduce a registry of so-called miners”, Aksakov told. He stressed that with this measure taken, miners will start to pay taxes and benefit the Russian state budget.

Aksakov added that his council, together with the Central Bank and Finance Ministry, must get the aforementioned cryptocurrency market in the legal sphere as quickly as possible.

Many miners might be outraged by this, but we all know there are countries where cryptocurrency initial coin offerings can become suspended by the state in an instant – and, quite surprisingly, Russian officials don’t seem to copy their Eastern counterparts’ decisions.

In other news from Russia, the biggest universities and institutes of the country are planning to introduce special courses dedicated to blockchain and cryptocurrencies. The Economic Faculty of the Moscow State University, for example, will have a separate set of lectures on blockchain and its financial benefits and another one – on cryptocurrencies. The Higher School of Economics (the national research university) will tell its students about digital currencies and blockchain tech in a joint educational program with Sberbank, the biggest and the most trusted state bank on the internal market. The MIPT and MISIS, respected technological institutes in Russia, are planning to widen their students’ knowledge on the matter as well. This all tells that cryptocurrencies, although regulated, will enter the Russian legislation very soon.