The issue of legalizing the mining of cryptocurrencies in Russia is not new. However, now the country's Energy Ministry is emphasizing the need to create a proper framework so that the economy can benefit from it.
The year 2022 started with a bearish trend for the entire cryptocurrency market. One bad news followed another, and all major cryptocurrencies suffered significant outflows. Meanwhile, the emerging NFT market is experiencing unprecedented growth.
Authorities in the city of Karaganda in Kazakhstan have discovered and liquidated a shadow mining farm that was illegally consuming electricity. The increasing activity of shadow miners could lead the country to ban the industry, following China's example.
Slovenia's Finance Ministry plans to tax transactions on exchanging fiat money into cryptocurrencies. To ensure that the new framework does not impact the economy, the authority is seeking feedback from the local community before actually implementing it.
The Ukrainian Ministry of Digital Transformation is making every effort to legalize cryptocurrencies in the country. For example, it is preparing the law on Digital Assets for the second reading on Verkhivna Rada. On the other hand, it is working on a framework that will allow taxing the income from trading cryptocurrencies.