OREANDA-NEWS  Anton Gorelkin, the first deputy head of the State Duma Committee on Foreign Economic Policy, believes it is right to introduce the code of the All-Russian Classifier of Economic Activities (OKVED) for cryptocurrency miners.

"I hope that in the near future the classification will also be expanded for other economic entities that are forced to use codes that do not accurately describe their activities (despite the fact that in many other industries they are very detailed). For example, some representatives of the data center market dream of having their own separate classifier. It seems to me that the introduction of the OKVED code for cryptocurrency miners is much more urgent," he wrote in his Telegram channel.

The deputy recalled that in June 2024, the Ministry of Finance stated that after the adoption of the mining law, it would support this initiative. "I have sent an appeal to Rosstandart, I invite the agency to a dialogue on this issue," the parliamentarian added.

In July 2024, the State Duma passed a law that made it possible to legalize cryptocurrency mining in Russia starting in November. The law establishes the procedure and conditions for conducting such activities. Russian legal entities and individual entrepreneurs included in the register of the Ministry of Finance of the Russian Federation will be entitled to engage in mining. Russians who are not sole proprietors will be able to mine digital currency without being included in the register if they do not exceed the limits of energy consumption set by the government of the Russian Federation. A legal entity and an individual entrepreneur will be entitled to operate as an operator of the mining infrastructure after being included in the register of such operators, which will also be maintained by the Ministry of Finance.