Deputy welcomes regulator’s idea to ban mining in Russia

MOSCOW, Jan 24 (PRIME) -- The Russian central bank’s suggestion to ban cryptocurrency mining should be approved or conditions should be created for the miners not to use cheap electricity, Pavel Zavalny, head of the energy committee at the State Duma, the parliament’s lower house, said on January 21.

Mining consumes the power that businessmen get at the prices for households. “This is not right, because the prices for households are subsidized at the expense of industrial consumers. Now it means that by subsidizing the people we subsidize miners, and the cheaper electricity is the higher is the output,” Zavalny said.

Using more electricity, mining also aggravates the country’s carbon footprint, he said.

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