Now Miners Have To Pay Fees On Bitcoin Mining As Per Russian Parliament

As per the parliament of Russia, the State Duma may imposing administrative responsibility for the Bitcoin mining reported on 7 June 2019.

The chairman of the State Duma Committee, Anatoly Aksakov said during the interview with TASS that there is a possibility where administrative responsibility for bitcoin and other cryptocurrencies mining can be introduced by the government at end of June this year.

I note that any operations with cryptocurrency that are contrary to the Russian legislation will be considered illegitimate. This means that mining, organizing issuance, circulation, creating exchange points for these tools will be prohibited. Administrative liability in the form of a fine will be incurred for such actions. We believe that cryptocurrencies created on open blockchains such as bitcoinsethers, and others are illegitimate tools.

– chairman of the State Duma Committee, Anatoly Aksakov

On the other hand, Aksakov also commented that people can still be allowed to own bitcoin even after the mining ban in Russia if it was acquired under foreign law at foreign sale and exchange points.

He also commented that if the transaction speed of bitcoin increases then it may be possible that we could see the people’s interest in bitcoin again.

Previously, The Khanty-Mansiysk Autonomous Okrug – Ugra Roman Genkel of Russia will develop the Blockchain-Based Tourism Services.

Also Read: How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free