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Insanity was strong: in the RF bill they abandoned “incomprehensible Bitcoins” and “meaningless mining”

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One of the authors of the Russian draft law “On digital financial assets”, Anatoly Aksakov, stated that by the second reading the notion of mining was excluded from the text. In particular, the head of the Duma Financial Market Committee said ( quoted by Interfax):

We used to think about Bitcoins, how to grow them into our economic system. Since we decided that we do not need them, these bitcoins are incomprehensible, then, accordingly, mining, it turns out, is not needed.

According to Aksakov, “if the law spelled out what mining is , then it would be necessary to define cryptocurrency as well.”

Aksakov also clarified that the new version of the bill does not stipulate taxation for miners. According to the deputy, the corresponding system should be established by the tax service. He noted:

In the work of the system that we have prescribed, mining does not make any sense.

In fact, Aksakov and his colleagues abandoned their previous intentions. On October 4, the legislator said that “mining should be taxed, since […] many earn good money,” and argued that the concept of mining should be spelled out in the bill.

In May, State Duma deputies approved a draft law on digital financial assets in the first reading. On June 27, Anatoly Aksakov told RIA Novosti that parliamentarians are postponing consideration of this draft law, called upon to regulate the circulation of cryptocurrencies and the holding of ICOs, for the autumn session.